Why in News?
The Electronics Components Manufacturing Scheme (ECMS) received applications exceeding targets: ₹1,15,351 crore investment vs ₹59,350 crore target and expected employment of 1.41 lakh vs 91,600 target, signaling strong industry interest and fast-tracked approvals.
Description:
- Scheme Tenure: 6 years
- Gestation Period: 1 year
- Objective: Promote domestic manufacturing of select passive electronic components
- Scope: Benefits industries such as automobiles, consumer electronics, and electronics manufacturing
- Mandatory Requirement: Employment generation for all applicants
Incentive Structure:
- Turnover-linked Incentive: Based on revenue growth
- Capex-linked Incentive: For investment in plant & machinery
- Hybrid Model: Combination of both turnover & capex-linked
- Incentive range: 1–10% depending on component & year
Additional Points:
- Focus is on passive components; active components fall under India Semiconductor Mission (ISM).
- Encourages skilled job creation alongside manufacturing promotion.
- First PLI scheme exclusively for passive electronics in India.
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