THE GOVERNMENT IS expected to increase the outlay for the scheme for promotion of manufacturing of electronic components and semiconductors (SPECS) to ₹10,000 crore and extend the scheme by five years, according to people aware of the matter.
The scheme was launched in 2020 with an outlay of ₹3,285 crore to promote production of electronic components chipsets in the country to increase domestic value addition down the supply chain. The scheme, which was open for applications initially for a period of three years, was extended by a year till March 31, 2024. The incentives under the scheme are available till FY28.
Of the total ₹3,285 crore, currently about ₹1,300 crore balance is left with the government to be disbursed as incentives. According to officials, companies such as Tata Electronics and Samsung Display have claimed the maximum incentives as of now.
This story is from the June 09, 2023 edition of Financial Express Mumbai.
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This story is from the June 09, 2023 edition of Financial Express Mumbai.
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