SPECS Incentive Scheme

SPECS- Incentive Scheme – Electronic Components and Semiconductors manufacturing- India

The Incentive Scheme under SPECS (Scheme for Promotion of manufacturing of Electronic Components and Semiconductors) proposes to offer financial incentive of 25% of capital expenditure for the manufacturing of eligible goods that constitute the supply chain of an electronic product.

The Scheme has been floated by MeitY with the object to offset the disability for domestic manufacturing of components and semiconductors in order to strengthen the electronics manufacturing ecosystem in the country.

Duration of SPECS- SPECS Scheme is open for applications initially for 3 years from the date of its notification.

For more information related to PLI scheme- please click here.

Application under the SPECS Scheme can be filed https://specs.ifciltd.com/.

Which goods are eligible for incentive under the SPEC Scheme?

The List of Goods eligible for incentive under the SPEC Scheme is enclosed herewith. For the purposes f eligibility criteria, goods have been divided under 7 sub heads as under:

1. List of goods with Minimum Investment Threshold Limit of INR 5 crore
2. List of goods with Minimum Investment Threshold limit of INR 15 crore
3. List of goods with Minimum Investment Threshold Limit of INR 25 crore
4. List of goods with Minimum Investment Threshold Limit of INR 75 crore
5. List of goods with Minimum Investment Threshold Limit of INR 250 crore
6. List of goods with Minimum Investment Threshold Limit of INR 500 crore
7. List of goods with Minimum Investment Threshold Limit of INR 1,000 crore

What is the quantum of incentive under the SPECS Scheme?

The SPECS Scheme proposes to provide an incentive of 25% on capital expenditure shall be provided to the units making investment for the goods as enclosed. The incentive will be provided on reimbursement basis.

What is the eligibility for making application under the SPECS Scheme?

• Application can be made by any entity registered in India.
• Application shall be only for single phase projects and phase-wise applications will not be considered under the Scheme.

Also read

Production Linked Incentive (PLI) Scheme- Electronic Manufacturing Companies-India