Tejas, Tessolve and Bosch to invest Rs 26 billion in electronics manufacturing

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February 4, 2015: Tejas, Tessolve and Bosch have announced that they will invest a total of Rs 26 billion in electronics manufacturing projects over the next few years. This comes across as a positive response to the government’s special incentive scheme, modified special incentive package scheme (M-SIPS), as the companies are investing under the same scheme. While Tejas Networks is planning its investments in the telecom equipment manufacturing, Tessolve Semiconductor has a plan of setting up an assembly and testing plant. On the other hand, Bosch will keep up its investments in the field of electronics as part of its ongoing plans.

“We will invest about Rs 17 billion in telecom equipments manufacturing. We have just got investment approved by government for first two phases of Rs 7.6 billion. Rest we will do in next phase,” Tejas Networks MD and CEO Sanjay Nayak told PTI on sidelines of IESA Vision Summit 2015 in Bengaluru.

Tessolve Semiconductor, on the other hand, has also announced the amount it is willing to invest in the assembly and testing plant. “We will invest Rs 7.5 billion in ATMP (assembly, testing, mark and packaging) plant over next three years,” Tessolve Semiconductor Co-founder V Veerappan said.

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Bosch Automotive Electronics India has a commitment of investing a total of Rs 5 billion in India, out of which it has already invested an amount Rs 3 billion. “We have gone through full cycle of investment under M-SIPS and are the first company to receive reimbursement of subsidy as promised by government. It makes sense for companies to invest in India as from here we are exporting as well. Exports contribute to about 65 percent revenue in India,” Bosch Automotive Electronics India Managing Director Panduranga Prabhu said.

The Indian government is already making efforts to reduce the import of electronic products so that the requirement of domestic market can be met through indigenous production. In fact, as per an IESA-EY report released by Karnataka Chief Minister Siddaramiah, key products made in India are four to 22 per cent more expensive as compared to the imports.

“The condition has improved a bit which means things are on right track. The disability numbers in 2015 range between 4-22 percent. In 2014, it ranged from 7-26 percent depending on extent of local value addition and depending on the product classification, ITA-1 products vs non-ITA-1 products,” IESA chairman Ashok Chandak said.

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