Modified Electronics Manufacturing Scheme 2.0 approved by the Union Cabinet

On March 21, 2020, the union cabinet chaired by PM Modi approved the Modified Electronics Manufacturing Clusters Scheme 2.0 (EMC 2.0). The scheme aims at improving the growth of Electronics System Design and Manufacturing sector.

Highlights

The scheme aims at developing entrepreneurial ecosystem, increase employment opportunities, attract investment. It will support setting up of Electronics Manufacturing Clusters.

These clusters set up under the 2.0 scheme will aid in setting up of common facility centres for the Electronic Manufacturing Clusters.

Benefits

The scheme will help in availability of ready infrastructure to attract investment in electronics sector. It will also attract new investments in the electronics industry and help in increasing employment opportunities.

Financial Assistance

The scheme is to run for 8 years. The amount allocated to the scheme is Rs 3,762.25 crores.

Electronic Manufacturing Cluster Scheme

Under the EMC scheme, the GoI has approved 20 Greenfield EMCs. An amount of Rs 1,557 crores have been allocated for the scheme so far. It is essential to deepen such schemes in the country to increase electronics value chain in the country.

Month: Current Affairs - March, 2020