NEW DELHI, Mar 8: Government has received investment proposals worth over Rs 25,352 crore for electronics manufacturing in the country under the two schemes launched by the government to boost domestic production of such goods.
Investment proposals of about Rs 19,057 crore have been received under Modified-Special Incentive Package Scheme (M-SIPS) and Rs 6,295.93 crore under the Electronics Manufacturing Clusters (EMC) scheme, an official official in the Communications and IT Ministry, said.
The official added that 58 proposals are for electronic hardware manufacturing under M-SIPS. Of these, 30 have already been approved and 5 more have been recommended for approval entailing investments of Rs 7,794 crore.
“For EMC schemes, 34 proposals have been received worth project outlay of Rs 6,295.93 crore. Of these, 16 proposals have been accorded in-principle approval and 10 are under appraisal process,” the official said.
Under M-SIPS, government provides subsidy for investments in capital expenditure with a limit of 20 per cent for investments in Special Economic Zone (SEZ) and 25 per cent in non-SEZs.
The official said that investments proposals have come from most of the electronics segments like electronic components, telecom network equipment, LED, consumer electronics, automotive and strategic electronics.
The government had approved a policy to provide preference to domestically manufactured electronic goods in all central government ministries and departments, except the Defence Ministry, and their agencies. (PTI)
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