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Cos can now submit applications for M-SIPS

Posted: 11 Jan 2013     Print Version  Bookmark and Share

Keywords:modified special incentive package scheme  M-SIPS  electronics  ESDM 

Companies can now send their applications to avail the modified special incentive package scheme (M-SIPS). The Government said it has released the guidelines and appointed a nodal officer for M-SIPS, which is aimed at promoting domestic manufacturing of electronics products.

"With the release of guidelines for M-SIPS, appointment of nodal officer, and notification of application fee, M-SIPS is now ready to receive applications," the government said in its statement.

The Cabinet approved the M-SIPS last year in July. Under the scheme, the government will provide incentives up to Rs.10,000 crore during the 12th Five Year Plan period (2012-17).

The M-SIPS provides 25 per cent of the capital investment in non-SEZ area and 20 per cent in SEZ area as financial incentive for the ESDM sector.

It would provide reimbursement of CVD/excise for capital equipment for the non-SEZ units. For high technology and high capital investment units, like fabs, reimbursement of central taxes and duties for 10 years would also be provided.

The guidelines contain the detailed terms and conditions of the scheme and procedure to apply for the scheme along with the application formats, the list of category-wise requirement of minimum investment and the list of various ESDM verticals eligible for M-SIPS.

The non- refundable application fee required to be submitted along with the application form varies from Rs.10,000 for projects costing less than Rs.10 crores to Rs.1,00,000 for projects costing Rs.10,000 crores and above. An applicant can also submit one or more initial applications under this scheme.

"All applications which will be received by DeitY on or before 26-07-2015 will be considered for incentives under M-SIPS."

A portal is also expected to be ready within a month allowing companies to submit applications online. A nodal officer has been appointed who would be the key contact for all communications related to M-SIPS.

The incentives are available for units all across the value chain starting from raw materials including assembly, testing, packaging and accessories and covering almost all verticals of ESDM products.

These include telecom equipments, mobile sets and accessories, opto electronics, IT hardware, biometric/identity devices, consumer electronics, power supply for ESDM products, medical electronics, semiconductor wafering, solar photovoltaics, semiconductor chips & components, fabs, LEDs, LCDs, avionics, electro-mechanical components, nano-electronics, E-waste processing, automotive electronics and also electronics manufacturing services (EMS) etc.

M-SIPS guidelines and details regarding the nodal officer and application fee can be viewed on:

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