Why in News?
The Ministry of Electronics and Information Technology (MeitY) has approved 22 additional projects under the Electronics Component Manufacturing Scheme (ECMS) to strengthen India’s electronics component ecosystem and reduce import dependence.
Description:
Key Terms Electronics Component Manufacturing Scheme (ECMS):
- Electronics Components: Parts such as PCBs, semiconductors (non-fab), passive components, connectors, sensors, display components, etc.
- Incremental Production: Additional output generated over a defined base year, used for incentive calculation.
- First-Finisher Principle: It prioritises incentive disbursal to firms that achieve production milestones ahead of others, within the scheme’s capped financial outlay.
About ECMS:
- Nodal Ministry: Ministry of Electronics and Information Technology (MeitY)
- Nature: Incentive-based manufacturing support scheme
- Objective: Promote domestic manufacturing of electronic components and sub-assemblies
- Coverage: Small firms as well as large manufacturers
Key Features:
- Incentive Basis: Payouts linked to incremental production and employment generation
- Competition-driven: Firms that complete production milestones earlier are prioritized for incentives
- Broad Component Focus: Targets upstream component manufacturing (not just final assembly)
- Private Sector-led: Encourages investments by Indian and global firms
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