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Govt clears Rs.961 crore investments in electronics

Posted: 15 Jul 2013     Print Version  Bookmark and Share

Keywords:modified special incentive package scheme  Bosch  Samsung  Sahasra  electronic systems design and manufacturing 

The Centre has approved investments worth Rs.961 crores in the electronics system design and manufacturing sector. On 12 July, 2013, union minister Kapil Sibal handed over investment approvals under modified special incentive package scheme (M-SIPS) at Electronics Niketan, New Delhi.

Investments from Bosch, Samsung, and Sahasra were among the first set of companies which got approvals to set up their electronic systems design and manufacturing (ESDM) facilities in the country, under the National Policy on Electronics.

The investment proposals cleared by the government include Rs.406 crore from Samsung for manufacturing smartphones in Noida. The project is expected to be implemented over next six months; Rs.544 crore of investment proposals from Bosch Automotive Electronics India Ltd for manufacture of automotive electronic devices like ECU engine system, ECU Brake system, body computer module in Bangalore. The project is expected to be implemented over three years; and Rs.11.1 crore from Sahasra Electronics Pvt Ltd for manufacture of in LED lighting products. The project is expected to be implemented over five years.

Samsung and Bosch will be eligible for subsidy of 25 per cent of their investment as these are in non-SEZ areas, while Sahasra will receive subsidy of 20 per cent as its unit is in SEZ area, Sibal said.

"It is important to boost manufacturing and Government is trying to promote manufacturing to create employment and bring in latest technologies in the country to serve the domestic market as well as export. Finalisation of M-SIPS application in such a short span of time will help create the right atmosphere for more investment attraction in the ESDM sector in India.”

The MSIPS has received good investment response with applications involving investment of more than Rs.4600 crore have been received till now. These are under various stage of appraisal and approval. These include Rs.450 crore of investment in consumer electronics and appliances, Rs.410 crore in hand-held devices, Rs.1770 in telecom products, Rs.310 crores in LEDs and LED products, Rs.45 crores in electronic components, Rs.610 crores in automotive electronics, Rs.40 crore in power electronics, Rs.210 crores in strategic electronics and Rs.750 crores in ATMP – semiconductor manufacturing.

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