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FICCI Hails Cabinet Approval of Schemes to Boost Electronics Manufacturing

Mar 22, 2020

NEW DELHI, 22 March 2020: Welcoming the Cabinet approval of schemes, Mr Manish Sharma, Chairman, FICCI Electronics Manufacturing and President and CEO, Panasonic India and South Asia, said, "Electronics manufacturing industry, both domestic and foreign has been eagerly awaiting the initiatives to boost their production and also to integrate in the global value chain. These schemes I am sure would not only neutralize cost disadvantages in manufacturing to a great extent but also help India to be part of global value chain."

"It is a very important move in the journey of 'Make in India' for electronics. The schemes announced by the government including the 'Production linked incentive', will not only boost the investor sentiment but is a big enabler for the development of the component ecosystem. Further to this, the SPECS (Scheme for Promotion of Electronic Components and Semiconductors), also attempts to bring stimulus to innovation with inclusion of incentive for Research & Development, a much-required step to enhance the scale of electronics manufacturing in India," said Mr Sharma.