February 19, 2015: The Faridabad-Ballabgarh-Palwal might soon get the identity of a brownfield electronics manufacturing cluster as the Haryana state government has already sent a detailed proposal for the same to the central government. It could prove to be highly fruitful as the state can expect a lot of development in the software industry and resultant employment opportunities.
The scheme already provides a subsidy of 20 per cent for investment in capital expenditure in Special Economic Zones (SEZs) and 25 per cent in non-SEZs. Latest reports revealed that the Chief Minister of Haryana, Manohar Lal, had earlier approved the proposal and had also directed that the department must identify more clusters in the state that are eligible to be notified under the scheme. It also provides for reimbursement of excise on capital equipment for the non-SEZ units. Reimbursements of central taxes and duties is also provided for high technology and high capital investment units. The incentives provided are available only for those investments that are made in a project within a period of 10 years from the date of approval.
All of these benefits are available for 29 different categories of products, including telecom, IT hardware, consumer electronics, medical electronics, automotive electronics, solar photovoltaic, LEDs, strategic electronics, avionics, industrial electronics, nano-electronics, semiconductor chips and chip components and other electronics components.