Centre approves 34 proposals worth Rs 11,187 cr under incentive scheme for electronic components manufacturing

New Delhi, Apr 6 (KNN) As of March 30 this year, the government has given the green light to 34 proposals for manufacturing electronic components, which are collectively worth Rs 11,187 crore.

In a written reply to Lok Sabha, Minister of State for Electronics and IT Rajeev Chandrasekhar said, “As on March 30, 2023, 120 applications have been received under Scheme for Promotion of Manufacturing of Electronic Components (SPECS).”

“Thirty four applications with total project cost of Rs 11,187 crore have been approved under the scheme,” he said.

Centre had notified about the Scheme for Promotion of Manufacturing of Electronic Components on April 1, 2020, and applications under the scheme were received till March 30, 2023.

As per reports, the applications received under the scheme are from domestic companies.

Under the scheme, the approved proposals include those from Tata Electronics, Samsung Display Noida Pvt Ltd, Salcomp Technologies, Sahasra Semiconductors, IdemiaSyscom, Deki Electronics, Molex India and Continental Device India Pvt Ltd.  (KNN Bureau)