Monday, July 21, 2014: At a time when the Indian government is striving to push electronics manufacturing in the country, here’s an encouraging news. The government has so far received the investment proposals of Rs 800,000 million till the month of June. This includes fresh proposals worth Rs 50,000 million as well.
The latest data has been shared by the Department of Electronics and Information Technology (Deity). The total number of investment proposals by the end of June stand at 41.
Speaking about the investment proposals, Deity Joint Secretary Dr Ajay Kumar said, “The rate of receipt of MSIPS applications has increased in the last two months. With the budget announced, this trend is expected to further strengthen. The mood is positive and there is optimism in the air. Potential investors are encouraged to make their move now.”
The total investments proposals in the electronics sector include Rs 645,000 million for electronics chips manufacturing, Rs 93,390 million for telecom products, Rs 23,300 million for strategic electronics, Rs 19,930 million for LED, Rs 8,830 million for automative electronics, Rs 3,670 million for consumer electronics, Rs 3,300 million for industrial electronics, Rs 1,040 million for electronics contract manufacturing.
It also includes Rs 980 million worth proposals for avionics electronics and Rs 530 million worth proposals for medical electronics.
The government has also provided its consent for setting up of an incubation centre in Delhi, that will work to support the start-ups in the electronics design and manufacturing sector. Software Technology Parks of India (STPI) in collaboration with industry body, India Electronics and Semiconductor Association (IESA) will set-up the incubation centre. According to Deity, “The total project cost approved for assistance is as Rs 211 million. STPI will set up an Incubator facility of 10, 000 square feet as part of this project. At least 50 start ups will be supported over a period of 5 years.”
Speaking about the investment proposals, Deity Joint Secretary Dr Ajay Kumar said, “The rate of receipt of MSIPS applications has increased in the last two months. With the budget announced, this trend is expected to further strengthen. The mood is positive and there is optimism in the air. Potential investors are encouraged to make their move now.”
The total investments proposals in the electronics sector include Rs 645,000 million for electronics chips manufacturing, Rs 93,390 million for telecom products, Rs 23,300 million for strategic electronics, Rs 19,930 million for LED, Rs 8,830 million for automative electronics, Rs 3,670 million for consumer electronics, Rs 3,300 million for industrial electronics, Rs 1,040 million for electronics contract manufacturing.
It also includes Rs 980 million worth proposals for avionics electronics and Rs 530 million worth proposals for medical electronics.
The government has also provided its consent for setting up of an incubation centre in Delhi, that will work to support the start-ups in the electronics design and manufacturing sector. Software Technology Parks of India (STPI) in collaboration with industry body, India Electronics and Semiconductor Association (IESA) will set-up the incubation centre. According to Deity, “The total project cost approved for assistance is as Rs 211 million. STPI will set up an Incubator facility of 10, 000 square feet as part of this project. At least 50 start ups will be supported over a period of 5 years.”
