Govt expects Rs18,000 crore funding in electronics

New Delhi, February 1

The government has set the target of around Rs 18,000 crore investment in the electronics manufacturing segment by 2021-22. The Finance Ministry has allocated Rs 2,631.32 crore for various schemes to boost electronic manufacturing in the country, including the Production Linked Incentive (PLI) scheme, Modified Special Incentive Package Scheme (MSIPS), Electronics Manufacturing Cluster (EMC) scheme and electronic development fund.

The government has set a target of “incremental investment by mobile companies and electronics manufacturing units approved under the PLI scheme” of Rs 1,000 crore and expects one lakh people to be employed by the approved companies till FY 2021-22. A sales target of Rs 10,000 crore for mobile sector PLI companies has been set for 2021-22 alone.

Separately, the government has set a target to get capital investment of Rs 5,000 crore from electronics manufacturing companies that have qualified for MSIPS and create employment for 25,000 people in the next fiscal. — PTI

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