Govt notifies Rs 22,919 crore electronics component manufacturing scheme

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Govt notifies Rs 22,919 crore electronics component manufacturing scheme - Business Standard

Quick Summary:

Both greenfield and brownfield applications will be accepted under the scheme, with applicants needing to apply separately for each product segment, the gazette notification said.

A governing council chaired by the IT ministry secretary shall have representation from other government departments such as the department of expenditure, the department of economic affairs, the department for promotion of industry and internal trade, the department of telecommunications, and the ministry of heavy industries.

During the last financial year, smartphone exports from the country crossed Rs 2 trillion in value, of which roughly Rs 1.5 trillion was due to Apple’s flagship iPhone exports from the various manufacturing and assembly plants that the Cupertino-headquartered device maker has in India, Vaishnaw said.