Government Schemes Boost Electronics Manufacturing in India

Under the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), an incremental investment of INR 8,803.14 crores has led to production worth INR 18,083.55 crores as of June 2024. Launched in April 2020, SPECS offers a 25% capital expenditure incentive to promote manufacturing in electronic components, solar photovoltaic (SPV) technologies, and e-waste recycling, among others.

Meanwhile, the Production Linked Incentive (PLI) Scheme for Large Scale Electronics Manufacturing, also introduced in 2020, has attracted INR 8,390 crores in incremental investments, leading to INR 5,14,960 crores in production, particularly in mobile phones and electronic components. These initiatives aim to boost domestic manufacturing and attract significant investments.

Source: https://pib.gov.in/PressReleasePage.aspx?PRID=2037597