image

MoCIT seeks Support from CMs and other ministers on Investment in ESDM projects

Kapil Sibal Meets with Chief Ministers and Ministers to Seek Support for Promotion of Investment in Electronics System Design and Manufacturing (ESDM) in States Proposals for Investment Worth Rs.4500 Crore Received for Manufacturing Facilities.

Shri Kapil Sibal, Hon™ble Minister for Communications and Information Technology and Law & Justice held a meeting with Chief Ministers and Ministers of State Governments to enlist their support in the ongoing efforts of Government for promotion of investment in Electronics System Design and Manufacturing (ESDM) in India at Vigyan Bhawan on May 29, 2013.

It was outlined that the demand for electronics hardware in the country is growing exponentially and is projected to increase from USD 45 billion in 2009 to USD 400 billion by 2020. This provides a huge opportunity for India to become an Electronics System Design and Manufacturing (ESDM) hub to meet its domestic requirements as well as the global requirements. Government of India is taking several initiatives to promote investment in the ESDM sector.

At the meeting, Shri Sibal, emphasized on the importance of the role of the State Governments in creating a pro-investment environment and facilitative availability of land, water, roads and training infrastructure to provide skilled manpower to support manufacturing activities. Appreciating the steps being taken by some of the State Governments, fruitful results of which are now becoming evident, he argued that other State Governments should also consider developing attractive policies for attracting the investment to their states.

Shri J. Satyanarayana, Secretary, DeitY mentioned that the initiatives planned to promote the ESDM in the country include setting of semiconductor fabs, providing subsidy on capex through Modified Special Incentive Package Scheme (MSIPS) for investments across the value chain in ESDM, setting up of Electronic Manufacturing Clusters (EMC) and Preferential Market Access for domestically produced electronic goods in government procurement. He informed that proposals for investment worth Rs.4500 crore have already been received for seeking incentive for manufacturing facilities to be set up in states of Andhra Pradesh; Karnataka; Kerala; Haryana; Rajasthan; Tamil Nadu; Utter Pradesh and West Bengal and six proposals/intents for setting up of Greenfield clusters in the States of Andhra Pradesh; Madhya Pradesh; Rajasthan; Tamil Nadu and West Bengal are in advanced stages of consideration. Already twelve Brownfield clusters have been notified in the states of Andhra Pradesh; Karnataka; Madhya Pradesh; Puducherry; Punjab; Utter Pradesh and West Bengal.

The States welcomed the initiative taken by Government of India and discussed their plans to support National Policy on Electronics and avail benefits of MSIPS and EMC scheme. The discussion involved Ministers from the states of Arunachal Pradesh; Gujarat; Haryana; Kerala; Orissa; Tripura, Uttarakhand and Sikkim along-with several senior officials of the Government of India and State Governments. The representatives of various Industry associations including CEAMA; IESA; ICA; TEMA CMAI; AIMED; ACMA; ELCMA; CII MAIT ELCINA etc. also participated in the meeting.

Tags: Andhra PradeshGovernment of IndiaIndiaMadhya PradeshNational Policy on ElectronicsState GovernmentTamil NaduWest Bengal

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Complinity Compliance Software

Complinity Compliance Software

Complinity Compliance Software

Corporate Law Referencer

Corporate Law Referencer

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates