Govt invites applications under M-SIPS

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The government has appointed a nodal officer for the Modified Special Incentive Package Scheme (M-SIPS). Companies can now send their applications for availing the scheme, which is aimed at promoting production of electronic products in the country. According to a Ministry for Communications and IT statement, “With the release of guidelines for the M-SIPS, the appointment of a nodal officer, and notification of the application fee, M-SIPS is now ready to receive applications.”

The companies are required to submit a non-refundable application fee ranging from Rs 10,000 for projects costing less than Rs 100 million, to Rs 0.1 million for projects costing Rs 100 billion and above. A Web portal is also expected to be ready soon, so that all applications can be submitted online.

Fee for Application under MSIPS 
Non refundable initial application fee 
Total Project cost proposed (INR) Application Fee (INR)
> = 1000 Crores 1,00,000/-
>=100 Crores and<1000 Crores  50,000/-
 >=10 Crores and <100 Crores  25,000/-
 >10 Crores  10,0001/-
 Cost of application for subsequent phases of approved project cost (Rs) will also be same.
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