Consumer Electronics Association hails govt's Rs 10,000-crore electronics manufacturing sop
The Union Cabinet on Wednesday approved amendment in the Modified Special Incentive Package Scheme (M-SIPS) to further incentivise investments in electronic sector.
Consumer electronics goods makers have welcomed the government's approval of Rs 10,000 crore incentive for electronic manufacturing by March 2018, saying the move would discourage import of components and parts required for making handsets.
According to CEAMA (Consumer Electronics & Appliances Manufacturer Association), the incentive would help realise the Modi government's Make-in-India vision.
"This is a noteworthy step towards boosting the local manufacturing as it will discourage import of components and parts required for handsets," said CEAMA President Manish Sharma.
"These initiatives, if implemented, will not only create an ecosystem of Electronic System Design & Manufacturing (ESDM) but also help realize the Make-in-India vision."
The Union Cabinet on Wednesday approved amendment in the Modified Special Incentive Package Scheme (M-SIPS) to further incentivize investments in electronic sector and moving towards the goal of "Net Zero imports" in electronics by 2020.