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MeitY releases draft notification of NPE 2018 for ESDM sector

October 12, 2018
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The Ministry of Electronics and Information Technology (MeitY) has released the draft notification of the National Policy on Electronics (NPE) 2018 for the electronics system design and manufacturing (ESDM) sector in India.

The draft policy would be focussing on the replacement of certain schemes such as Modified Special Incentive Package Scheme (M-SIPS) with plans that are easier to implement, such as interest subsidy and credit default guarantee, in order to encourage new units and in the expansion of existing units in the electronics manufacturing sector.

In addition, the draft also suggests the exemption of import duty on identified capital equipment not being manufactured domestically to reduce capex for expansion of existing units. Further, the draft suggested for the promotion of a forward looking and stable tax regime in the form of Phased Manufacturing Programme (PMP) with a sunset clause.

Moreover, the MeitY would set up a government-owned testing and evaluation facility in order to enhance the understanding of cyber security issues and risks and devise mitigation measures pertaining to electronic products for the requirements of government sector.

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