Govt gets proposals worth over Rs 25,000 crore for electronics manufacturing

About Rs 19,000 cr worth proposals received under M-SIPS

The government has received investment proposals worth over Rs 25,352 crore for electronics manufacturing in the country under the two schemes launched to boost domestic production of such goods.

Investment proposals of about Rs 19,057 crore have been received under Modified-Special Incentive Package Scheme (M-SIPS) and Rs 6,295.93 crore under the Electronics Manufacturing Clusters (EMC) scheme, an official in the Communications and IT Ministry, said.

The official added that 58 proposals are for electronic hardware manufacturing under M-SIPS. Of these, 30 have already been approved and five more have been recommended for approval entailing investments of Rs 7,794 crore.

"For EMC schemes, 34 proposals have been received, worth project outlay of Rs 6,295.93 crore. Of these, 16 proposals have been accorded in-principle approval and 10 are under appraisal process," the official said.

Under M-SIPS, the government provides subsidy for investments in capital expenditure with a limit of 20% for investments in Special Economic Zone (SEZ) and 25% in non-SEZs.

The official said that investments proposals have come from segments like electronic components, telecom network equipment, LED, consumer electronics, automotive and strategic electronics.

The government had approved a policy to provide preference to domestically manufactured electronic goods in all central government ministries and departments, except the Defence Ministry, and their agencies.