Union minister of state for Electronics and IT, Jitin Prasada informed Lok Sabha during question hour today that the domestic production of the electronics have grown from over five lakh 33 thousand crores in 2019-20 to over nine lakh 52 thousand crore rupees last year.
That is a compound growth rate of about 16 percent. According to the industry estimates, around 25 lakhs employment, both direct and indirect, has been generated in the electronics sector. The minister has informed that the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors, SPECS provided financial incentive of 25 percent on the capital expenditure for the identified list of electronic goods that comprises downstream value chain. SPECS is the Production Linked Incentive scheme for large scale electronics manufacturing.