Govt clears Rs 17,300 crore worth investment proposals

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‘Make in India’ is happening and it is happening big time. The government has said that till now it has cleared Rs 17,300 crore worth of investment proposals in the electronics manufacturing sector.

According to Economic Times, out of 195 proposals, entailing an investment worth Rs 1.21 lakh crore, the government has approved 74 applications amounting to Rs 17,300 crore. This was said by Ajay Kumar, additional secretary in the department of electronics and IT (DeitY).

The secretary also said that 94r proposals are at different stages of getting approved whereas the rest 27 proposals were declined due to lack of communication between the department and those firms who sublistted the proposals.

According to Indian Cellular Association, Chinese companies alone are expected to invest $2-3 billion (Rs 13,400 crore to Rs 20,100 crore) in the Indian mobile manufacturing sector over the next two years. The government is also ensuring that electronics manufacturing gets priority as it is gearing towards reducing the electronics imports in the country.

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Kumar also said that defence electronics is another big area of concentration for the government and a lot of manufacturing activities can be seen in this domain in the coming two years.

By Atanu Kumar Das

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