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The government's electronics manufacturing schemes announced on Tuesday will attract more global players in the long run and meet the targets under the National Policy on Electronics (NPE) 2019, said various industry bodies.
The government introduced three schemes — Production Linked Incentive Scheme (PLI), Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme — with an outlay benefit of ₹50,000 crore to the manufacturers.
“The mobile manufacturing industry is very positive about the move and this scheme will help meet the targets under NPE 2019. This will certainly lead to companies moving their supply chains to India. This will not only spur manufacturing but will make India an export-led global manufacturing hub for mobile phones,” Nitin Kunkolienker, President- Manufacturers` Association For Information Technology (MAIT) said.
He said that the interruption in the global supply chain due to the coronavirus pandemic gives India an opportunity to increase export-led manufacturing and broadening the scope of PLI to all other major sectors of electronics like consumer electronics, ICT, CPE products, computers and medical electronics will be a game-changer.
‘Progressive step’
“This initiative is a progressive step towards ‘Make in India’ helping us achieve the Prime Minister's vision of 'Aatmanirbhar Bharat'. Collectively the schemes – PLI, EMC 2.0 and SPECs will help scale up the component ecosystem and generate employment,” Manish Sharma, Chair, FICCI Electronics and Manufacturing Committee, said.
Sharma, who is also the President and CEO Panasonic India, said that the electronics industry in India can increase its potential multi-fold by 2025, with backward integration fostering local production of PCBs and ATMPs.
“It is important that we leverage the current times to explore new geographies for expanding the demand domain through exports with stability in policies and agility in approach,” he added.
India Cellular and Electronics Association (ICEA) said that schemes will help the government's vision to establish India as the world's number one mobile handset manufacturing destination status.
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