As you may be aware that The National Policy on Electronics 2019 (NPE 2019) was announced last year, as a successor to the NPE 2012, to accelerate the growth of Electronics System Design and Manufacturing (ESDM) sector and position India as one of the global hubs for this sector. This policy seeks to provide incentives to investments in the electronics sector with a focus on Components, Semiconductors and Mobile Phones. A wide range of components is covered in the SPECS Scheme and a few in the PLI Scheme. The focus on components, and semiconductors, including ATMP (Assembly Test Mark & Pack) is to enhance domestic value addition and strengthen the value chain. This has been the biggest weakness of our ESDM industry so far and needs incentivisation. We hope this will help to expand and diversify electronics manufacturing into sectors like medical, automobile, EVs, defense, components and in emerging domains such as 5G, IoT, Artificial Intelligence and more. The underlying objective is to enhance domestic value addition, R&D, Innovation and encourage exports.
Accordingly, the Government announced 3 key Schemes under NPE 2019 on 20th March 2020, PLI, SPECS and EMC 2.0 which together constitute the foundation of NPE 2019. They are expected to enable large scale electronics manufacturing, a domestic supply chain ecosystem of components and state-of-the-art infrastructure. It will contribute significantly to achieving a USD 1 Trillion digital economy, a USD 5 Trillion GDP by 2025 and a US$ 400 Bn ESDM Industry with higher value addition.
Of these three, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), is of special interest to ELCINA Members as this is a successor of erstwhile M-SIPS scheme. The key difference between the two schemes is while M-SIPS covered entire gamut of Electronic components and equipment, SPECS provides Capital Investment incentives only to Electronics Components.
ELCINA has its empanelled consultants who provide end to end project consultancy to apply under the Scheme. Please find attachéd three documents for your ready reference:
ELCINA played a key role in formulation in these schemes and are keen that our members benefit from the same. Our objective is to ensure that Members get quality support in preparation and filing of their SPECS applications and to ensure that project approval process goes smoothly.
Interested Members are requested to fill the Screening form and send back to yogesh@elcina.com. You may call undersigned or Yogesh (9911445891) for any clarification. We urge you to seize this opportunity and apply under the SPECS Scheme to expand your business as this is the right time as we move towards an Atmanirbhar Bharat. Please do call or write to us for any queries you may have.
For more details and availing this service please fill the form below, we will contact you.