Govt receives Rs 20 billion investment proposals for electronics

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It seems Indian electronics industry is getting really lucrative for investors these days. The Indian government has received investment proposals of over Rs 20 billion for setting up electronics manufacturing clusters. These clusters have been proposed to set up in south India.

According to a PTI report, the information about the investment proposals was revealed by Ajay Kumar, joint secretary, Department of Electronics and Information Technology. “There have been fresh investment proposals for three greenfield Electronics Manufacturing Clusters (EMCs) of over Rs 20 billion. They will be scrutinised before final approval,” said Kumar while speaking to PTI.

The EMCs in question are proposed to be set up by Andhra Pradesh Industrial Infrastructure Corporation to be spread in an area of over 602 acres and 310 acres. While the third EMC is proposed to be set up in an area of 527-acre by GMR Infrastructure.
Kumar also said that DeitY has already received preliminary application to set up two more clusters in Andhra Pradesh. The proposals have come from Raaga Mayuri Builders. A steering committee on EMC will scrutinise the investment proposals first before the final approval. The government is yet to announce the guidelines of greenfield EMCs.

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It is worth mentioning here that other states are also pulling up their socks for establishing the EMCs. West Bengal has already approved two clusters, while Madhya Pradesh has issued letter of intent for setting up of four EMCs. If the momentum continues in the same form, DeitY expects an investment of Rs 250,000 million in the electronics sector by end of financial year 2013-14.

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