22 Companies, Including Foxconn and Tata, Approved for Electronic Manufacturing Incentives
Foxconn, Tata, and 20 other firms get government nod for electronic component manufacturing incentives.
Photo by Redowan Dhrubo
The government has approved applications from 22 companies, including major players like Foxconn and Tata Electronics, under the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS). This initiative aims to boost domestic manufacturing of electronic components, sub-assemblies, and semiconductors, which are crucial for reducing India's import dependence.
The approved projects are expected to generate investments of ₹11,000 crore and create 36,000 jobs. This move is a significant step towards making India a global hub for electronics manufacturing, aligning with the 'Make in India' vision and enhancing self-reliance in a strategic sector.
मुख्य तथ्य
22 companies approved under SPECS
UPSC परीक्षा के दृष्टिकोण
Government schemes and policies for industrial growth (SPECS, PLI, Semicon India)
Economic implications of import substitution and export promotion
Strategic importance of semiconductor manufacturing and supply chain resilience
Employment generation and skill development in manufacturing sector
Role of FDI and domestic investment in economic development
दृश्य सामग्री
SPECS Scheme: Key Outcomes of Latest Approvals (Jan 2026)
This dashboard highlights the immediate impact and key figures from the recent approval of 22 companies under the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).
- Companies Approved
- 22
- Expected Investment
- ₹11,000 crore
- Expected Job Creation
- 36,000
- Incentive Rate
- 25% on CapEx
Includes major players like Foxconn and Tata Electronics, signifying strong industry participation.
This substantial investment is crucial for boosting domestic electronics manufacturing capacity and reducing import dependence.
Direct job creation in a strategic manufacturing sector, aligning with 'Make in India' and demographic dividend goals.
The core financial incentive offered by the SPECS scheme to encourage capital expenditure in eligible manufacturing units.
और जानकारी
पृष्ठभूमि
नवीनतम घटनाक्रम
बहुविकल्पीय प्रश्न (MCQ)
1. Consider the following statements regarding the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS): 1. The scheme aims to provide financial incentives for manufacturing electronic components, sub-assemblies, and semiconductors. 2. It is primarily focused on promoting exports of finished electronic goods from India. 3. The incentives under SPECS are available for both new investments and expansion of existing manufacturing units. Which of the statements given above is/are correct?
उत्तर देखें
सही उत्तर: B
Statement 1 is correct. SPECS provides financial incentives (capital expenditure subsidy) for manufacturing electronic components, sub-assemblies, and semiconductors. Statement 2 is incorrect. While boosting manufacturing can indirectly aid exports, the primary objective of SPECS is to reduce import dependence and increase domestic value addition, not primarily export promotion of finished goods, which is more aligned with some PLI schemes. Statement 3 is correct. The scheme supports both greenfield (new) and brownfield (expansion/modernization) investments in eligible product categories.
2. In the context of India's efforts to become a global electronics manufacturing hub, consider the following statements: 1. The Production Linked Incentive (PLI) scheme for Large Scale Electronics Manufacturing primarily focuses on increasing domestic value addition in mobile phone manufacturing. 2. The India Semiconductor Mission (ISM) is an independent business division within the Ministry of Electronics and Information Technology (MeitY) to drive India's semiconductor and display manufacturing ecosystem. 3. The Design Linked Incentive (DLI) scheme aims to offer financial incentives as well as design infrastructure support for semiconductor design. How many of the statements given above are correct?
उत्तर देखें
सही उत्तर: C
Statement 1 is correct. The PLI scheme for Large Scale Electronics Manufacturing, launched in 2020, has been highly successful in attracting investments and boosting domestic manufacturing and value addition, particularly in mobile phones. Statement 2 is correct. The India Semiconductor Mission (ISM) was set up as an independent business division under Digital India Corporation within MeitY to catalyze India's semiconductor and display manufacturing ecosystem. Statement 3 is correct. The DLI scheme offers financial incentives and design infrastructure support for semiconductor design, aiming to nurture domestic companies in chip design. All three statements are correct, reflecting India's multi-pronged strategy for electronics and semiconductor manufacturing.
3. Which of the following is NOT a significant challenge faced by India in establishing itself as a major global hub for advanced electronics and semiconductor manufacturing?
उत्तर देखें
सही उत्तर: D
Option D is incorrect. India has a massive and growing domestic demand for electronic components and finished goods, driven by its large population, increasing digitalization, and rising disposable incomes. This demand is, in fact, one of India's strengths and a key motivator for boosting domestic manufacturing. Options A, B, and C are all significant challenges. Setting up fabrication units (fabs) requires enormous capital investment and has long lead times. India also faces challenges in developing a complete domestic supply chain for specialized raw materials and chemicals, and there is a recognized shortage of highly skilled talent in advanced semiconductor design, R&D, and manufacturing processes.