With an aim to promote electronics system design and manufacturing (ESDM) sector, the government recently launched the Modified Special Incentive Package Scheme.
The Indian Government expects that 2013 will see many companies setting up electronic manufacturing units and clusters of these units in the country.
“We are hoping that in year 2013 there will be tremendous response from the industry in setting up (manufacturing) units and clusters of these units across the country,” PTI quoted Department of Electronics and Information Technology (DEITy) Secretary J Satyanarayana as saying.
With an aim to promote electronics system design and manufacturing (ESDM) sector, the government has launched the Modified Special Incentive Package Scheme (M-SIPS). As part of the scheme, the govt aims to provide up to Rs 100 billion in benefits to the industry during the 12th Five Year Plan period.
The scheme includes subsidy for investments in capital expenditure with a limit of 20 per cent for investments in Special Economic Zone (SEZ) and 25 per cent in non-SEZs.
At the ninth Vision Summit of the India Electronics and Semiconductor Association (IESA), Dr Ajay Kumar, joint secretary of DEITy, recently shared that at least 10 electronics manufacturing clusters are likely to materialise in the country within the year. He added that elements of the National Policy on Electronics would enable India to become a hub for the global electronic system design and manufacturing (ESDM) industry.
