Monday, December 29, 2014: An official from Department of Electronics and Information Technology informed that within last six months the department has received proposals worth Rs 180,000 million, among which most were with financial closures. He further stated that the proposal worth Rs 60 billion has already been approved, while rest are in the pipeline.
He said that last year only those companies have arrived which were already present in India, with the proposals to expand their manufacturing facilities. Whereas this year, within the span of last six months, proposals have landed from both existing as well as new industry players.
Different companies including Nidec, Continental, Motherson Sumi, Calsonic Kansei, Tissol, Tata SED, Tejas, Panasonic and others have come up with the investment proposals. The official noted, “ About 25-30 new companies across various segments have come with investment proposals. Now people across geographies are very sure about the electronics manufacturing push of Indian government. Reimbursement of MSIPS benefit has further boosted confidence.”
Under the MSIPS (Modified Special Incentive Package), the government has sanctioned the subsidy for investments in capital expenditure with 20 per cent investment limit for Special Economic Zone (SEZ) and 25 per cent for the non SEZs.
As per the official, majority of the investment have come from the different electronics segments like electronic components, telecom network equipments, LED, consumer electronics, automotive and strategic electronics.
