News Column

ELECTRONICS TO BE FOCUS OF IT MINISTRY: RAVI SHANKAR PRASAD

June 17, 2014



The Government of India is pushing for promotion of manufacturing, semiconductor wafer fabrication units and electronics development fund. For the Ministry of Communications and Information Technology (IT), Government of India, electronics will be a key focus area, as consumption of electronic goods in India is expected to reach $400 billion by 2020. IT Minister Ravi Shankar Prasad has said

that it is important to increase manufacturing in the sector, which can generate employment for about 2.8 crore people. He has met representatives from Samsung, Nokia and telephone and cellular bodies in this regard. The Government of India has identified eight cities - Ghaziabad, Vadodara, Gandhinagar, Ahmedabad, Nagpur, Nasik, Aurangabad

and Thane - as part of its Modified Special Incentive Package Scheme (M-SIPS), whereby companies investing capital in electronics manufacturing will get up to 25 percent subsidy. The government will also set up seven greenfield electronic manufacturing clusters in Hyderabad, Mahaeshwaram, Bhiwadi, Bhopal, Jabalpur, Kakkanad and Hosur.


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Source: Indian Business Insight


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