EPACK Durable, a leading original design manufacturer (ODM) of room air conditioners (RACs) in India, has received Rs 78 lakh as the first tranche of the Rs 15.37 crore incentive under the Modified Special Incentive Package Scheme (M-SIPS). This initiative, led by the Ministry of Electronics and Information Technology (MeitY), is aimed at promoting domestic electronics manufacturing and reducing reliance on imports. The company's first-phase application was approved under the scheme on 24th December 2020. 

The M-SIPS initiative offers phased incentives to companies that invest in capital expenditure to establish electronic manufacturing units. With the first tranche now disbursed, EPACK Durable is strengthening its commitment to the Government of India's ‘Make in India' and ‘Aatmanirbhar Bharat' visions by expanding its electronics manufacturing footprint.

M-SIPS has been pivotal in enhancing India's electronics manufacturing ecosystem, enabling companies such as Dixon Technologies, Haier, LG, and Voltas to expand production capacities. These incentives are vital in positioning India as a competitive global manufacturing hub, fostering import substitution, and encouraging innovation in the electronics and consumer durables sectors.

The scheme has also played a significant role in employment generation and skill development. EPACK Durable's workforce has grown from 2,122 employees in FY 2019-20 to 4,565 employees in FY 2023-24, reflecting its substantial contribution to job creation in the sector. 

Commenting on the milestone, Ajay Singhania, Managing Director & CEO of EPACK Durable, said, "This milestone is a testament to EPACK Durable's commitment to the ‘Make in India' vision. The M-SIPS incentive enables us to strengthen domestic RAC production, reduce import dependence, and integrate advanced manufacturing technologies. As we scale up operations, we aim to position India as a vital player in global supply chains, driving innovation and creating meaningful employment opportunities within the sector."