According to the Ministry of Communications and IT, the government has approved investment projects valuing around Rs 60 billion under the various electronic manufacturing schemes in the second half of 2014. During the same time period, the government received proposals of about Rs 180 billion, majority with financial closures, under the manufacturing schemes. The companies which submitted investment proposals include Nidec Corporation, Continental AG, Motherson Sumi Systems, Calsonic Kansei Corporation, Tata SED, Tejas Electronics, Panasonic Corporation among others.
The ministry has added that along with the boost provided by the ?Make in India? initiative, the reimbursement under the Modified Special Incentive Package Scheme (MSIPS) to the companies has boosted confidence among the investors in the Indian electronic manufacturing industry.
To further stimulate the growth of electronic manufacturing in the country, the Ministry of Communications and IT is planning to set up an Electronics Development Fund for start-ups to encourage entrepreneurs in information technology, electronics and manufacturing.
