Lawstreet Journal

Government launches Incentive Schemes to Boost Large-Scale Manufacturing of Electronics in the Country

Lawstreet Journal 5 Jun 2020 8:01pm

Image courtesy: Lawstreet Journal Executive Government launches Incentive Schemes to Boost Large-Scale Manufacturing of Electronics in the Country

Ravi Shankar Prasad the Telecom and IT Minister has stated that on Tuesday (June 2nd, 2020) they have launched three incentive schemes with a total outlay of Rs 48,000 crores to boost large-scale manufacturing of electronics in the country. The schemes include the Production Linked Incentive of about Rs 41,000 crore; The Component Manufacturing Clusters of about Rs 3,300 crores and Modified Electronics Manufacturing Clusters of about Rs 3,800 crores and were approved by the Union Cabinet in March this year, but the applications for the same have been invited from this month. 

Under the first scheme known as the Production Linked Incentive, which is targeted at mobile phone manufacturing and specified electronic components, the government has initially planned to incentivise about 10 firms, including 5 global and 5 locals. Commenting on it, Mr. Prasad stated, “Globally 5-6 companies control 80% of the mobile market. We initially plan to pick up five global champions who will be permitted to participate under PLI. We also want to make national champions, so we will incentivise five Indian companies as well.”

It was further clarified that the firms would be selected as per the guidelines issued and that “There are norms in the guidelines, such as the company’s turnover, the quality and rate of their mobiles, etc. there is a proper transparent system in place and the selection norms will be followed.” Acknowledging the fact that India has been able to achieve modest success in electronics manufacturing, it was started that India had emerged as… Continue Reading...


Tagged: Ravi Shankar Prasad   technology  
Disclaimer: SoOLEGAL in Media collaboration with Lawstreet Journal. SoOLEGAL take no responsbility for the content provided by Lawstreet Journal. For any discrepancies Contact Lawstreet Journal.
Did you find this write up useful? YES 0 NO 0
Send
Featured Members view all

New Members view all

×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.