Saturday, September 07, 2013: In the last six months, the Indian Government has received investment proposals to the tune of Rs 300 Billion for the electronics and IT industry apart from 15 proposals for establishing electronics clusters.
“The government has already received 15 proposals to set up electronics clusters, out of which six have been approved and some of these have already started setting up these clusters,” Business Standard quoted Ajay Kumar, Joint Secretary, Department of Electronics and Information Technology (DeitY). He said this at the Electronica India 2013 and Productronica India 2013.
“In last six months, the government has received investment proposals for around Rs.30,000 crore for the industry,” he added.
According to the new Electronics Policy, 2013 the government would incur 50 per cent of the cost of the project with a ceiling of Rs 500 million for each 100 acres of land so that this incentive by the government will boost the establishment of electronics manufacturing clusters.
Electronics clusters aid the growth of the Electronics Systems Design and Manufacturing sector, provide the right environment for entrepreneurial ecosystem, bring about innovation and spur economic growth of the region by offering employment opportunities and tax revenues. These also attract more and more investments.