Packing batteries with more punch
Indian researchers are working on cells that can store more energy, last longer
The draft policy talks about replacement of certain schemes.
The Ministry of Electronics and Information Technology (MeitY) has come out with the draft notification of ‘National Policy on Electronics 2018’ (NPE 2018) for the Electronics System Design and Manufacturing (ESDM) Sector of India.
MeitY said that it will coordinate with the Ministries and Departments concerned to provide incentives to the industry for rapid and robust expansion of electronics hardware manufacturing within the country.
The draft policy, released on Wednesday, talks about replacement of certain schemes such as Modified Special Incentive Package Scheme (M-SIPS) with plans that are easier to implement, such as interest subsidy and credit default guarantee, in order to encourage new units and in the expansion of existing units in the electronics manufacturing sector.
It also said the government will provide support for infrastructure development through formulation a new scheme by modifying the existing Electronics Manufacturing Clusters (EMC) scheme, for supporting both greenfield and brownfield manufacturing clusters.
“This shall include leveraging the existing and upcoming industrial clusters/manufacturing zones/corridors in the country, with provision for ready-built factories, for attracting investments in complete value chain of identified verticals,” the draft policy noted.
Doing away with M-SIPS would deprive investors of 20- 25 per cent capital subsidy for electronic manufacturing in special economic zones (SEZs) or non-SEZs depending on the projects.
Introduced in 2012, the M-SIPS was not as it is enough for investors, who would get incentives from the government 10 years after investing ₹1 crore to ₹.5,000 crore.
The draft NPE 2018 talks about exempting the import duty on identified capital equipment not being manufactured in the country to reduce capital expenditure for setting up/expansion of existing units.
It said a forward looking and stable tax regime, including advance intimation to the industry to plan investments in the form of Phased Manufacturing Programme (PMP) in various segments of electronics, with a sunset clause should be promoted.
The draft also said the government would “Levy cess on identified electronic goods to be considered to generate resources for promotion of certain critical sub-sectors of electronics manufacturing such as semiconductor wafer fabrication and display fabrication units”.
Meanwhile, to enhance understanding of cyber security issues/ concerns, risks and mitigation measures pertaining to electronic products and for the requirements of government sector, the Ministry will also set up a government-owned testing and evaluation facility.
“MeitY, with the approval of Competent Authority, may review and amend various aspects of this policy from time to time, depending upon the experience gained during implementation, market dynamics, feedback from stakeholders, etc,” it added.
Indian researchers are working on cells that can store more energy, last longer
To fix a broken bone, doctors often harvest another bone from the patient’s body or from someone else. It ...
Superconductors from IIScScientists at IISc Bangalore have invented a device with a nanocrystal structure ...
Engineering and construction giant L&T has won a licence from the Council of Scientific & Industrial ...
Ensure that the investment thesis based on which you bought the IPO still holds good
Here are some yardstick for selecting auto component stocks
Those with a moderate risk appetite & an investment horizon of 3 years can consider the fund
Digital money-lending platforms may be hassle-free and convenient, but look before you leap
India is ready with two vaccines to beat the deadliest virus of recent times. The immunisation drive, however, ...
The storming of the Capitol on January 6 could be the prelude to yet another chapter in the US’s long and ...
‘Now It’s Come to Distances’ examines the defining moments of the past year — the Shaheen Bagh protests, ...
Legal and regulatory uncertainties hang like a sword on an industry which earned ₹2,470 crore revenues in the ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor