SPECS & PLI
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 outlay of ~INR 3,285 crore ($440 million) and shall provide incentive of 25% on capital expenditure for eligible goods on reimbursement basis. The Scheme will be open for applications initially for a period of 3 years up to 31/03/2023 and incentive will be available for investment made within 5 years from the date of acknowledgement of the application.
Ministry of Electronics and Information Technology (MeitY) has appointed IFCI Ltd. to act as the Project Management Agency (PMA) for Production Linked Incentive Scheme (PLI) for Large Scale Manufacturing Scheme, aimed at boosting domestic manufacturing and attract large investment in electronic value chain including electric component and semiconductor packaging. The Scheme has an outlay of ~INR 40,951 crore and shall extend incentive of 4% to 6% on incremental sales (over base year) of eligible goods manufactured in India.
Online applications can be submitted on IFCI’s website.
For SPECS click here
For PLI click here