Friday, December 20, 2014: Ravi Shankar Prasad, the minister of communications and IT said that the Electronics Manufacturing Clusters (EMC) Scheme covers financial assistance for developing world-class infrastructure for electronics manufacturing units. Whereas, the Modified Special Incentive Package Scheme (M-SIPS) serves financial incentives to make up for the disability and also to attract investments for the electronics manufacturing, including telecom. He has invited the states to take benefit of these schemes.
Prasad further added that the government has given a green signal to set up two semiconductor wafer fabrication (FAB) manufacturing facilities in India to develop the necessary ecosystem that is required for design and manufacturing of telecom products. The approved units are allowed duty free import of goods required by them, under the Electronics Hardware Technology Park (EHTP) Scheme for carrying out export activities, CST reimbursement and excise duty exemption on obtaining indigenously available goods, as mentioned in the Foreign Trade Policy.
As per the Product Scheme of the Foreign Trade Policy, the listed products export would get duty credit scrip equivalent to 2 to 5 per cent of FOB value of exports. These involve telecom products and components including mobile handset. Deity provides funding under different schemes like support for International Patents in Electronics & IT (SIP-EIT); Multiplier Grants Scheme and Scheme for Technology Incubation and Development of Entrepreneurs (TIDE) in the area of Electronics, ICT and Management for promoting R&D.
