“India to become global electronics hub.”

Mr. Kapil Sibal Minister of Communications & IT

Mr. Kapil Sibal
Minister of Communications & IT

ESDM is the next sunrise sector for India and that the fast-growing demand for electronics hardware in the country, coupled with India’s growing strengths in semiconductor chip design, provide a huge opportunity for the country to become a globally-competitive electronics hub.

In the coming months, the effort will be to create greater awareness and marketing of the new policy initiatives.

The Department of Electronics and IT (DeitY) has taken several major decisions to make India a preferred destination for investments in the ESDM sector. The Modified Special Incentive Package Scheme (M-SIPS) provides 25 percent of the capital investment in non-SEZ areas and 20 percent in SEZ areas as financial incentive for the ESDM sector. Rs 10,000 crore has been earmarked for the scheme during the 12th Plan.

Guidelines to operationalise the scheme would be finalised in September 2012 and applications under the scheme can be made from October 2012.

Mr. Kapil Sibal said on the occasion of the release of a special issue of the magazine Yojana – a monthly publication of the Planning Commission.

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