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News: The Ministry of Electronics and Information Technology (MeitY) has notified the Electronics Components Manufacturing Scheme.
About Electronics Components Manufacturing Scheme
- This is the first scheme that focuses on promoting the manufacturing of passive electronic components including resistors, capacitors, connectors, inductors, speakers, relays, switches, oscillators, sensors, films and lenses.
- Nodal Ministry: Ministry of Electronics and Information Technology (MeitY)
- Aim: It aims to deepen domestic value addition by localizing core electronic components by developing capacity and capabilities, and integrating Indian companies with Global Value Chains (GVCs).
- Tenure: The tenure of the scheme is six years with a one-year gestation period.
- Features:
- This scheme follows the Indian Semiconductor Mission (ISM 1.0) and white goods PLI.
- Both greenfield and brownfield applications will be accepted with applicants needing to apply separately for each product segment.
- Incentives criteria:
- Incentives will be structured in three ways—turnover linked (based on revenue), capex intensive (for investments in plants & machinery), or hybrid (a combination of both).
- Incentives for incremental investments and turnover range from 1–10% depending on the year and the component.
- Employment-linked incentives: The government has tied part of the payouts to job creation.
- Beneficiaries:
- Mobile Phone & Consumer Electronics Players
- Component & PCB Makers
- Semiconductor & Passive Component Players
- Automotive & EV Component Suppliers
- Display & Camera Module Makers
