The Ministry of Electronics and Information Technology (MeitY) has approved a total of 314 applications with proposed investments of Rs 868.24 billion under a modified special incentive package scheme (M-SIPS) till May 31, 2022.
According to an official note from the MeitY, the approved proposals included an investment of Rs 5.96 billion from Bosch Automotive Electronics Private Limited.
As per the document, 320 applications with proposed investments of Rs 892.32 billion were under consideration, as of the end of May 2022. Out of these, 314 applications have been approved, four applications with proposed investments of approximately Rs 3.15 billion have been recommended by the appraisal committee for approval, and two applications with proposed investments of Rs 20.93 billion are under appraisal.
As of May 31, 2022, incentives of Rs 17.74 billion have been disbursed to 114 applicants.
