Government clears 75 proposals under M-SIPS for manufacturing

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Government has approved 75 proposals involving an investment of Rs 60.38 billion in the first phase under the Modified Special Incentive Package Scheme, the Rajya Sabha was informed on Friday.

M-SIPS, manufacturing, government, India

These projects are across States like Haryana, Karnataka, Maharashtra, Kerala, Rajasthan, Tamil Nadu, Uttar Pradesh, West Bengal and Uttarakhand.

The 75 proposals together entail a project cost of Rs 179.9682 billion  with a proposed employment of 29,328 people.

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The projects are from companies like LG Electronics India, Philips India, Wipro GE Healthcare, Flextronics, Lava, Dixon Technologies and Samsung India Electronics, among others, for manufacturing items like mobile phones, colour TV, refrigerators, LED bulbs and X-ray machines, among others.

The scheme offers subsidies to large investments in electronics manufacturing and system design. M-SIPS, which was earlier valid till July 2017, has been extended till July 2020.

(Source : PTI)

By Baishakhi Dutta

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