Kapil Sibal, Union Communications and Information Technology Minister, recently met the ambassadors and heads of chambers of commerce of countries to promote India as a destination for investment in electronics manufacturing. Representatives from countries like the US, UK, Germany, Japan, South Korea and Taiwan met the Minister.
“By and large, we had positive responses from all the representatives, and they all want to invest in India, which will also generate many jobs to our people,” Sibal was reported saying. Sibal said the foreign representatives had raised some points, which were clarified during the meeting. “First was about the predictability of policies. We told them that all these policies, whether for electronics or telecom, are for 10 years. Secondly, they were concerned about preferential market access (PMA) and we told them that PMA in government procurement and security will occupy only 3 per cent of the market, and the rest will be free,” he said.
