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Govt clears 75 proposals under M-SIPS for manufacturing

Press Trust of India  |  New Delhi 

Government has approved 75 proposals involving an investment of Rs 6,038 crore in the first phase under the Modified Special Incentive Package Scheme, the was informed today.

"So far, 75 proposals involving phase-1 investment of Rs 6,038 crore have been approved under M-SIPS," P P Chaudhary, Minister of State for Electronics and IT, said in a written reply in the

These projects are across States like Haryana, Karnataka, Maharashtra, Kerala, Rajasthan, Tamil Nadu, Uttar Pradesh, and Uttarakhand.

The 75 proposals together entail a project cost of Rs 17,996.82 crore with a proposed employment of 29,328 people.

The projects are from companies like Electronics India, Philips India, GE Healthcare, Flextronics, Lava, Dixon Technologies and Electronics, among others, for manufacturing items like mobile phones, colour TV, refrigerators, LED bulbs and X-ray machines, among others.

The scheme offers subsidies to large investments in electronics manufacturing and system design. M-SIPS, which was earlier valid till July 2017, has been extended till July 2020.

Chaudhary further said that out of the 75 proposals, disbursement of Rs 16.8 crore incentives have been made to three applicants. These are SGS Tekniks Manufacturing (Haryana), Bosch Automotive Electronics (Karnataka) and Desai Electronics (Maharashtra).

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 25 2016. 17:42 IST