Many cos likely to set up electronic mfg units in 2013

The government is hopeful of many companies setting up electronic manufacturing units in the country this year, a top official said today.

"We are hoping that in year 2013 there will be tremendous response from the industry in setting up (manufacturing) units and clusters of these units across the country," Department of Electronics and Information Technology (DEITy) Secretary J Satyanarayana told reporters here.
In order to promote electronics system design and manufacturing (ESDM) sector, the government has launched the Modified Special Incentive Package Scheme (M-SIPS), under which it will provide up to Rs 10,000 crore in benefits to the industry during the 12th Five Year Plan period (2012-17).
The scheme will provide subsidy for investments in capital expenditure with a limit of 20 per cent for investments in Special Economic Zone and 25 per cent in non-SEZs.
Telecom Minister Kapil Sibal has also travelled to Japan to attract investments in the Indian electronics sector. "There is lot of enthusiasm and interest both in the US and Japan as a result of the Minister's visit," Satyanarayana said when asked about the response to the visit.