The Indian authorities’s electronics and IT ministry has authorized a complete of 314 purposes with proposed investments of Rs. 86,824 crore underneath a modified particular incentive package deal scheme until Could 31, an official notice mentioned.
The proposals that had been authorized in Could included an funding of Rs. 596 crore fromAutomotive Electronics Personal Restricted, the official notice dated June 24 mentioned.
“As on Could 31, 320 purposes with proposed funding of Rs. 89,232 crore are into consideration. Out of those 320 purposes, 314 purposes with proposed funding of roughly Rs. 86,824 crore have been authorized,” the official doc mentioned.
M-SIPS (Modified Particular Incentive Bundle Scheme) was introduced by the federal government in July 2012. It has been amended twice –- in August 2015 and in January 2017, and primarily gives asubsidy of 20-25 p.c.
The appliance window for M-SIPS was closed on December 31, 2018.
“As on Could 31, incentives of Rs. 1,774.47 crore have been disbursed to 114 candidates,” the doc mentioned.
M-SIPS was the primary scheme underneath which the federal government wooed electronics manufacturing corporations.
, , Bosch, , Motherson Sumi Techniques, , , , Continental Automotive, GE BE and had been the preliminary candidates for the scheme.
The federal government has now give you the production-linked incentive schemes in an try to woo international cell machine makers.
In October 2020, it cleared 16 proposals from home and worldwide corporations entailing funding of Rs. 11,000 crore underneath thescheme to fabricate cell phones price Rs. 10.5 lakh crore over the following 5 years.
The businesses embodymaker ‘s contract producers , and , other than Samsung and . Home corporations whose proposals have been authorized embody , , , UTL Neolyncs and .