The central government expects investment proposals in electronics manufacturing to more than double in two years from 2015-16 to 2017-18. The government has, reportedly, received 54 proposals, of which it has approved 30 requests entailing investments worth Rs 60 billion. Further, 24 proposals are in an advanced stage and are likely to be cleared before the end of this financial year.
The government plans to cut net imports of electronics to zero by 2020, for which it is offering benefits such as payback of up to 25 per cent of capital expenditure to attract investments in electronics manufacturing. Incentives are also available for a range of products including telecom, IT hardware, consumer electronics and semiconductor chips and chip components.
The government is also facilitating speedy clearances to attract new proposals and has disbursed subsidies under the Modified Special Incentive Package Scheme for 2013-14.
