News Column

India : Department of Electronics and Information Technology proposes to amend electronics manufacturing subsidy scheme

September 1, 2014



Making it more investor-friendly and expanding its scope to include a number of new categories, with white goods being the most important, the Department of Electronics and Information Technology has proposed to amend the electronics manufacturing subsidy scheme, in line with Prime Minister Narendra Modi's stated agenda of promoting 'Made-in-India' items.

Big-ticket investment in India could be spurred with the addition of consumer durables under the Modified Special Incentive Package Scheme (MSIPS).

Several world leading companies like as Panasonic, Samsung and Videocon, among others, are said to have approached the department to seek the same incentives offered to makers of electronics.

The department is presently seeking the industry's inputs on the the policy's revised draft, which was notified two years ago and is supposed to end in July 2015.

An official said that a proposal is being made to extend the policy for another three years.

He added : "The procedure is also being streamlined to reduce delay in processing of the applications plus the (investment) thresholds have been rationalised and additional verticals are being added."


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Source: TendersInfo (India)


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