GE, Bosch, Continental, Motherson Sumi, Bharat Electronics, Tejas Networks, and Magneti Marelli are among the companies that got the Centre’s nod for setting up an electronics manufacturing facility in India.
The Centre has approved 30 proposals worth ₹6,500 crore from 57 proposals of over ₹19,000 crore received for the electronics manufacturing clusters, Ravi Shankar Prasad, Communications and Information Technology Minister, told reporters here.
Companies such as Cisco and Microsoft have also shown interest in taking part in the ‘Make in India’ and ‘Digital India’ programmes, he said. Companies like GE are looking at the medical devices segment. Prasad is confident that as electronics manufacturing clusters come up, more companies will invest in these regions. These companies will get incentives under the Modified Special Incentive Package (M-SIPS).
The Centre will provide subsidy for investments in capital expenditure with a limit of 20 per cent for investments in Special Economic Zones (SEZs) and 25 per cent in non-SEZs. These clusters and SEZs are being set up in Andhra Pradesh, Uttar Pradesh and Madhya Pradesh.
He said such clusters will not only manufacture electronic items, but also provide jobs to around 14 crore in the coming years.