Govt gets Rs 2K cr investment proposals in electronics sector
New Delhi: The government has received fresh investment proposals of over Rs 2,000 crore for three new electronics manufacturing clusters proposed to be set up in southern India.
"There has been fresh investment proposals for three greenfield Electronics Manufacturing Clusters (EMCs) of over Rs 2,000 crore. They will be scrutinised before final approval," Joint Secretary at Department of Electronics and Information Technology Ajay Kumar said.
The proposals include EMCs spread over 602 acres and 310 acres to be set up by Andhra Pradesh Industrial Infrastructure Corporation, and a 527-acre EMC by GMR Infrastructure.
DEITY has also received preliminary application to set up two more clusters in Andhra Pradesh by Raaga Mayuri Builders.
These investments proposal will be scrutinised by a steering committee on EMC before final approval.
The guidelines for greenfield EMCs are yet to be announced.
Madhya Pradesh has issued letter of intent to set up four EMCs and West Bengal has given approval for two clusters.
The government has notified five brownfield clusters -- two each in Karnataka and Madhya Pradesh and one in Noida (Uttar Pradesh). These clusters can take benefit of the EMC scheme which include financial incentives of up to 75 percent of the project cost subject to a ceiling of Rs 50 crore.
For greenfield EMCs, financial incentives is 50 percent of the project cost subject to a ceiling of Rs 50 crore for every 100 acres.
DEITY expects to attract investment worth Rs 25,000 crore in the electronics sector by end of financial year 2013-14.