India has become the second largest mobile phone producing country in the world. Government of India has launched three big schemes of 50,000 crores to make it self-sufficient in electronic products.
The central government made a big decision to start three new mega schemes at a cost of about 50 thousand crore rupees with the aim of making the world’s top country in mobile phone production, as well as to speed up the production of electronic products and its parts. Electronics, Information Technology and Communications Minister Ravi Shankar Prasad has declared that Make in India is to make India self-reliant.
He said that under this, manufacturing of electronics products has gained momentum in the last six years and now India has become the second largest mobile phone producer in the world. The same country has been targeted to be the top country in the next few years.
Ravi Shankar Prasad said that to achieve self-sufficiency in manufacturing of electronics products and to build five global and five national level companies in the country, three new schemes of around Rs.50 thousand crores comprising Production Linked Incentive (PLI) Electronic Component and Semiconductors (SPECs) and Modified Electronics Manufacturing Cluster Scheme 2.0 (EMC 2.0).
Ravi Shankar Prasad said that through these three schemes, about 10 lakh people are expected to get employment in the next five years. Along with this, a target of manufacturing Rs 8 lakh crore and export of Rs 5.8 lakh crore has been set.
He said that the target of Rs 40995 crore PLI scheme is to increase the production of mobile phones and electronic components.
Under this, mobile manufacturing is to be done on a large scale. For this, companies will be given a production-related bonus of four to six percent for the next five years, under the initial phase in this scheme, applications can be made by July 31, 2020. Under this, a minimum investment and production limit has been set per company.
Each company has also been prescribed an annual and maximum bonus. The scheme will be implemented through IFCI Limited.
He said that companies wishing to take advantage of the Rs 3285 crore SPECS scheme would have to invest a minimum of Rs 5000 crore to Rs 1,000 crore.
Excess investment limit is not fixed. Under this, plant, machinery, equipment, R&D, utility and TOT will be benefited, through which it includes components as well as semiconductor, MTMP and special sub-assemblies. The scheme will also be implemented by IFCI Limited. Web prime media Facebook page https://www.facebook.com/WebPrimeMedia. Like youtube channel https://www.youtube.com/channel/UC4xt0Z3znLvB4Stk2pw3qBg. Subscribe Connected everywhere.