Deadline for ECMS applications extended to September-end: MeitY
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The government has extended the application window for the Electronics Component Manufacturing Scheme (ECMS) by two months to 30 September, the ministry of electronics and information technology ( MeitY ) said on Wednesday.The initial three-month application window for the nearly Rs 23,000 crore scheme ended on Wednesday and has already seen more than 110 applications being filed, according to sources. MeitY was planning to extend the scheme after receiving a good response from the industry, ET had reported last week.However, the decision to extend the deadline was finalised after companies had asked for the same, industry sources had said.The Rs 22,919 crore scheme aims to establish a strong domestic manufacturing ecosystem for a range of components that are fundamental building blocks in nearly all modern electronic devices. These include bare components such as Multi-layer Printed Circuit Board (PCB) and Li-ion cells for digital applications, passive components like resistors, capacitors, and inductors, as well as display and camera module sub-assemblies.Applications for ECMS opened for applications on May 1, a month after China imposed strict export controls and licensing requirements for rare earths, of which it controls over 90 percent of the global processing capacity and the largest reserves.Back in April, Union electronics and IT minister Ashwani Vaishnaw had said ECMS will serve as a horizontal scheme that will support not just electronics but also the industrial, power, and automobile sectors and more during the launch of the application window.The government aims to attract investments worth Rs 59,350 crore, production worth Rs 456,500 crore, and direct employment of 91,600 persons. This offers a flexible incentive structure that can be production-linked (turnover-linked), capex-linked, or a hybrid of both. Incentives are to be paid progressively over six years, running from 2025-26 to 2030-32.The ECMS is the successor of the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) launched in 2020, which provided a 25 percent capital subsidy for investments in the manufacturing of electronic components, semiconductors, specialised sub-assemblies, and capital goods.
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