SME Times News Bureau | 05 Jun, 2020
body FICCI congratulates Minister for Electronics & IT Ravi Shankar Prasad for
unveiling the guidelines of three new schemes for the development of
electronics manufacturing and its ecosystem in India.
schemes are Production Linked Incentive Scheme (PLI), Scheme for Promotion of
Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified
Electronics Manufacturing Clusters (EMC 2.0) Scheme.
welcomes this forward looking, timely and bold policy initiative. It is the
surest step forward to shift supply chains in one of the fastest growing
sectors of the world to India.
expect India to become a leading exporter for mobile phones to the world by
2023. The schemes will also help pull in manufacturing of components,
sub-assemblies and eventually core technologies, it said.
is a historic day for Indian electronics industry. The scheme would not only
integrate Indian electronics industry with the global supply chain and building
robust manufacturing ecosystem but also help in creating more employment in the
country," said Som Mittal, Mentor, FICCI Electronics Manufacturing
Sharma, Chair, FICCI Electronics Manufacturing Committee further added, "The roadmap launched today of
the Rs 50,000 crore incentive schemes by Minister, Ravi Shankar is encouraging
for the electronics industry. This initiative is a progressive step
towards 'Make in India' helping us achieve the Honorable PM's vision
of Atmanirbhar Bharat.”
He added that collectively the schemes - PLI, EMC 2.0
and SPECS will help scale up the component ecosystem and generate employment.
We believe, the electronics industry in India can
increase its potential multi-fold by 2025, with backward integration. It is
important that we leverage the current times to explore new geographies for
expanding the demand domain through exports with stability in policies and
agility in approach, he said.