Tuesday, February 04, 2014: India seems to be gaining importance amongst the investors in electronics industry. The country has received proposal worth Rs 650,000 million in the sector of semiconductor and electronics manufacturing.
Out of these, proposals worth Rs 138,000 million fall under the incentive scheme and the remaining are for the two silicon wafer foundries to be build in India. J Satyanarayana, secretary of DeitY, said, “We have identified 2014 as ‘Made in India’ year. We are creating the infrastructure for the sector.” He was speaking at the IESA Vision Summit 2014, the annual industry conclave of Indian Electronics and Semiconductor Association.
The government of India has announced quite a few incentives to encourage investment in electronics industry under the Modified Special Incentive Package Scheme (M-SIPS). The scheme allows the companies in certain clusters to avail about 25 pre cent of cost as subsidies.
The official informed that the department already cleared proposals worth Rs 40,000 million. Companies like Samsung and Bosch have already received approvals for setting up manufacturing facilities in Noida.
Satyanarayana said, “Apart from this, government has set a corpus sum of Rs 30,000 crore for setting up electronic manufacturing clusters.” India currently imports over 65 per cent of the electronic products of the electronic products and the rest, that are manufactired within the country, are mainly of low-value. Satyanarayana stressed the need of India designing wafers. “Unless that happens, it won’t give fillip to manufacturing in the country.” India’s first semiconductor characterisation lab is expected to come up in Bangalore in the next six months, said Omkar Rai, director-general of STPI.
