As an attempt to garner foreign investments in electronic manufacturing the central government had planned for aggressive marketing techniques. Road shows, international seminars and visits to some of the major companies are planned for attracting multinational companies’ interest to Indian Industry. Electronics Manufacturing Clusters and Modified Special Incentive Package (M-SIPS) are formulated by the government with an aim of encouraging electronic manufacturing in India.
Department of Electronics and Information Technology (DeitY) Secretary, J. Satyanarayana has emphasized the importance of attracting foreign direct investments and domestic investors in selling the proposed National Policy on Electronics. DeitY has confirmed that the government has kept some thresholds for each type of products, so that it would give subsidies of 20% to special economic zones (SEZs) and 25% to non-SEZs to the investors under the M-SIPS scheme. It also reported that it will work with National Skill Development Corporation for getting people to the IT hardware and electronics industry.
The projected requirement is to reach 28 million people by 2020 for generating revenue of $400 billion from the industry. The Government had approved about Rs 10,000 crore for the scheme in the 12th Five-Year Plan.
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