MAIT lauds PM Modi for initiatives to boost indian electronics manufacturing sector

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electronics industryThursday, August 21, 2014: Manufacturers Association of Information Technology (MAIT) lauded PM Narendra Modi for his initiatives to promote India-made products. MAIT said that these initiatives will benefit the youth section of our country.

In his Independence day speech, Modi invited global firms to “come, make in India”. The government is working hard to revive our domestic manufacturing sector, including electronic goods and chip-level components. MAIT executive director Anwar Shirpurwala said in a statement that PM’s address will open a new chapter in the manufacturing industry in India. Electronic manufacturers are represented by this association in the country.

The director said, “Our honourable Prime Minister Narendra Modi’s address to the nation on the 68th Independence Day opens a new chapter to propel the manufacturing agenda. Schemes related to skill development shall benefit a millions of youth population, boost self-reliance and create employment at a large scale. Recognizing the need for a vibrant India, where electronics manufacturing should start on a war-footing basis, MAIT’s several recommendations made to Modi’s government earlier can help navigate the challenges faced by the IT Hardware Sector in India. Modi’s speech has renewed optimism to regenerate local manufacturing and build a new Digital India.”

2014 has been termed as ‘Made in India’ year by the Department of IT and Electronics (DeitY) as investment proposals amounting to almost Rs 650,000 million have been received so far, in the semiconductor and electronics manufacturing segments. Many schemes have already been announced like Modified Special Incentive Package Scheme (M-SIPS) which provides firms 25 per cent subsidy to establish the facilities.