Tejas Networks will invest Rs 17 billion in electronic manufacturing projects in India. According to the company, an investment of Rs 7.60 billion has already been approved by the government for first two phases. The remaining investment will be made in the subsequent phases.
The company is making the investments under the modified special incentive package scheme (MSIPS). MSIPS, a special incentive scheme of the government, provides 25 per cent subsidy on capital expenditure made by a domestic company in a non-Special Economic Zones (SEZ) along with reimbursement of excise for capital equipment. For SEZ, the scheme provides 20 per cent subsidy on capital expenditure made by the company and reimburses its central taxes and duties for 10 years.
