Indian government has approved Electronic
Manufacturing Proposals worth Rs 6,000 crore in the last six months from proposals
of about Rs. 18,000 crores. Telecom Minister Ravi Shankar Prasad handed over
first reimbursement cheque to Bosch Electronics on December 25.
According to Department of Electronics and
Information Technology, the companies who have come up with investment
proposals include Nidec, Continental, Motherson Sumi, Calsonic Kansei, Tissol,
Tata SED, Tejas, Panasonic and others.
Investments have come from most of the electronics
segments like electronic components, telecom network equipments, LED, consumer
electronics, automotive and strategic electronics.
Under Modified Special Incentive Package (MSIPS),
government provides subsidy for investments in capital expenditure with a limit
of 20 percent for investments in Special Economic Zone (SEZ) and 25 per cent in
non-SEZs.
"About 25-30 new companies across various
segments have come with investment proposals. Now people across geographies are
very sure about the electronics manufacturing push of Indian government.
Reimbursement of MSIPS benefit has further boosted confidence," the
Department said.
Last year, only companies who were present in India
came up with proposals to expand their facilities but in the past six months
proposals came from both existing and new firms, the department added.
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