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Sibal hands over Rs 961 Cr investment subsidy to Electronics system manufacturing hub

By TIOL News Service

NEW DELHI, JULY 13, 2013: MR Kapil Sibal, Union Minister for Communications & IT and Law and Justice handed over Investment Approvals regarding Government financial support to investments worth Rs. 961 Crores in the Electronics System Design and Manufacturing sector in India in presence of representatives from Industry, Industry Associations, MSIPS applicants and media persons on July 12, 2013 at Electronics Niketan, New Delhi. Investment Proposal are:

(i) Rs. 406 Crores of investment proposals for M/s. Samsung India Electronics Pvt. Ltd. for manufacture of smartphones at Noida. The project is expected to be implemented over next 6 months.

(ii) Rs. 544 Crores of investment proposals for M/s. Bosch Automotive Electronics India Ltd. for manufacture of automotive electronic devices like ECU engine system, ECU Brake system, Body Computer Module in Bangalore. The project is expected to be implemented over 3 years.

(iii) Rs. 11.1 Crores of investment proposals for M/s. Sahasra Electronics Pvt Ltd for manufacture of in LED lighting products. The project is expected to be implemented over 5 years.

Samsung and Bosch will be eligible for subsidy of 25% of their investment as these are in non-SEZ areas, while Sahasra will receive subsidy of 20% as its unit is in SEZ area. MSIPS provides for incentives for both large investment as well as small investment. Incentives are available both to multi-national as well as domestic companies without discrimination.

Speaking on the occasion, Mr Sibal said, “It is important to boost manufacturing and Government is trying to promote manufacturing to create employment and bring in latest technologies in the country to serve the domestic market as well as export. Finalization of MSIPS application in such a short span of time will help create the right atmosphere for more investment attraction in the ESDM Sector in India.”

The MSIPS has received good investment response with applications involving investment of more than Rs. 4600 Crores have been received till now. These are under various stages of appraisal and approval. These include Rs. 450 Crores of investment in Consumer Electronics and Appliances, Rs. 410 Cores in Hand held devices, Rs. 1770 in Telecom Products, Rs. 310 Crores in LEDs and LED Products, Rs. 45 Crores in Electronic Components, Rs. 610 Crores in Automotive Electronics, Rs. 40 Crores in Power Electronics, Rs. 210 Crores in Strategic Electronics and Rs. 750 Crores in ATMP – Semiconductor manufacturing.

One of the most attractive provisions of the NPE is the Modified Special Incentive Package Scheme (MSIPS), which was notified in July 2012 and guidelines were released in October 2012. Applications under MSIPS scheme were then received by the Department of Electronics & IT (DeitY). As per this scheme, Government is providing subsidy of up to 25% of capex for setting up new manufacturing units as well as for expansion of existing units.

The process of setting up of Greenfield Electronic Manufacturing Clusters is also getting kick started. So far 08 applications have been received involving investment of approximately Rs. 2100 crore and an area of 1805.29 acres for setting up of Greenfield Electronic Manufacturing Clusters. These Greenfield Clusters are in various locations including Hyderabad, Hosur near Bangalore, Bhiwadi, Bhopal etc. The first 3 proposals for Greenfield EMCs are going to the Steering Committee for Clusters headed by Secretary, DeitY today for granting in principle approval which will enable the applicants to take further steps to set up the Electronic Manufacturing Clusters. These proposals are as follows:

(i) Greenfield EMC in Hyderabad in an area of 602.37 acres involving investment of Rs. 580 crore applied by Andhra Pradesh Industrial Infrastructure Corporation.

(ii) Greenfield EMC in Maheshwaram, Andhra Pradesh in an area of 310 acres involving investment of Rs. 360 crore applied by Andhra Pradesh Industrial Infrastructure Corporation.

(iii) Greenfield EMC in Hosur, Tamil Nadu in an area of 527.1 acres involving investment of Rs. 606 crore applied by M/s. GMR Infra Ltd.


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