Promotion of Electronics Manufacturing
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Telecom and IT Minister Ravi Shankar Prasad launched three incentive schemes with a total outlay of about ₹48,000 crore to boost large-scale manufacturing of electronics in the country.
- The three schemes — Production Linked Incentive (outlay of nearly ₹41,000 crore), Component Manufacturing Scheme (about ₹3,300 crore) and Modified Electronics Manufacturing Clusters (about ₹3,800 crore) — were approved by the Union Cabinet in March this year, however, the government began inviting the applications under these schemes.
- Under the Production Linked Incentive (PLI), which is targeted at mobile phone manufacturing and specified electronic components, the government initially plans to incentivise 10 firms — five global and five local.
- With the three new schemes, the government aims to manufacture electronics worth ₹8 lakh crore, while generating employment for about 10 lakh people in the next five years.
- “This is a step towards self-reliant India. A self-reliant India is not an India of isolation. It is not an inward looking India. It is one which enhances its capacity and develops an ecosystem as an asset to the global economy... Make in India is only for India...a self reliant, resurgent and robust India. It is not against any country,” Telecom and IT Minister Ravi Shankar Prasad said.