Why in news The Ministry of Electronics and Information Technology launched a ₹22,919-crore Electronics Component Manufacturing Scheme f...
Why in news
The Ministry of Electronics and Information Technology launched a ₹22,919-crore Electronics Component Manufacturing Scheme for six years.
The scheme provides incentives to firms making ‘passive’ components for electronics, based on capex and turnover.
Incentives range from 1-10% depending on investments and turnover.
The focus of the scheme is to boost the manufacturing of sub-assemblies and components, building on the success of large-scale electronics manufacturing in India.
Currently, domestic value-added in electronics manufacturing is 18%, while countries like China are at 38%.
The government aims to double India’s domestic value-added in electronics by 2030.
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