Government undertakes several initiatives to promote electronics manufacturing in India

Source: The post is based on the article “Government undertakes several initiatives to promote electronics manufacturing in India” published in PIB on 19th July 2022.

What is the News?

The Government of India has launched several initiatives to promote electronics manufacturing in India.

Due to these initiatives, the domestic production of electronic goods has increased substantially from USD 37 billion in 2015-16 to USD 74.7 billion in 2020-21 growing at a Compound Annual Growth Rate(CAGR) of 17.9%.

What are the schemes launched by the Government to promote electronics manufacturing in India?

Scheme for setting up of Semiconductor Fabs in India: It provides fiscal support to eligible applicants for setting up of Semiconductor Fabs.

Scheme for setting up of Display Fabs in India: It provides fiscal support to eligible applicants for setting up of Display Fabs. The Scheme provides fiscal support of up to 50% of Project Costs subject to a ceiling of INR 12,000 crore per Fab.

Scheme for setting up of Compound Semiconductors / Silicon Photonics / Sensors Fab and Semiconductor Assembly, Testing, Marking and Packaging(ATMP) / OSAT facilities in India: The Scheme provides financial support of 30% of the Capital Expenditure to the eligible applicants for setting up of Compound Semiconductors / Silicon Photonics (SiPh) / Sensors (including MEMS) Fab and Semiconductor ATMP.

Design Linked Incentive(DLI) Scheme