Cabinet approves incentive scheme for ESDM sector

According to a press report, the Union Cabinet has approved the proposal to provide a special incentive package to promote investment in the Electronics System Design and Manufacturing (ESDM) sector. The scheme, called the Modified Special Incentive Package Scheme (MSIPS), will cover 29 categories of ESDM products including telecom, IT hardware, consumer electronics, medical electronics, automotive electronics, solar photovoltaics, LEDs, LCDs, strategic electronics, avionics, industrial electronics, nano electronics, semiconductors, chips and chip components, other electronics components and EMS. The scheme also provides incentives for relocation of units from abroad.