SPECS

Ministry of Electronics and Information Technology (MeitY), Government of India has issued Work Order to IFCI Ltd. to act as the Project Management Agency (PMA) for the Scheme for Promotion of Manufacturing of Electronics Components and Semiconductors (SPECS). The Scheme has an incentive outlay of ~INR 3,252 crore approx and shall provide incentive of 25% on capital expenditure for eligible goods on reimbursement basis. The Scheme was open for applications initially for a period of 3 years up to 31/03/2023 and was subsequently extended for a period of one more year i.e. up to 31/03/2024 vide notification dated 05/04/2023. Under the Scheme, incentive will be available for investment made within 5 years from the date of acknowledgement of the application.

Online applications can be submitted on IFCI’s website.

• For SPECS click here