E-waste recycling facility eligible for incentive under SPECS scheme
Union Ministry of Electronics and Information Technology (MEITY) has recently amended the Scheme for Promotion of manufacturing of Electronic Components and Semiconductors (SPECS) guidelines to make e-waste recycling facilities eligible for incentives under the scheme.
As per the latest addition of Annexure-1A in SPECS guidelines, recycling facilities for extraction of precious metals from e-waste components with a minimum investment threshold of ₹ 2 crores are eligible for incentives.
E-waste components, as per the latest notification, include lithium-ion batteries, PCBs (both populated and bare), spent magnets, solar PV panels, catalytic converters, and any components from electronic wastes.
The scheme, notified in 2020, proposed to offer the financial incentive of 25 percent of capital expenditure for the manufacturing of goods that constitute the supply chain of electronic products under the lists in the scheme annexure.
The scheme categorizes eligible electronic goods into 7 different lists depending on the minimum investment threshold limit starting from ₹ 5 crores to ₹ 1,000 crores.
With a budget outlay of ₹ 3,285 crores, the SPECS applies to investments in new units as well as expansion of capacity or modernization and diversification of existing units.