The government has approved 21 electronic clusters, telecom minister Ravi Shankar Prasad has said .
The minister was speaking at the occasion of he software lobby group Nasscom and the India Electronics and Semiconductor Association IESA) signing a memorandum of understanding to jointly work to boost the government's Make in India and Digital India initiatives.
Through this partnership, the two industry groups are aiming for IT and Electronic System Design and Manufacturing (ESDM) to contribute 25% to the country's GDP by 2025 that propelled India into the world's top five economies Prasad said the government has so far received investment proposals worth Rs.65,000 crore while it has approved proposals worth Rs. 9,000 crore under the Modified Special Incentive Package Scheme, or M-SIPS programme, which aims to promote large-scale manufacturing in the ESDM sector.
Under the M-SIPS programme, a subsidy of 20% in capital expenditure is given to companies for investment in SEZs and 25% in non-SEZs.
In the past one year, the telecom sector has emerged as the largest contributor to foreign direct investment in India, Prasad said, adding that the government has taken many initiatives to spur growth.
Manufacturing, he said, is crucial as it drives economic growth and revenue for the country.
India's mobile penetration is expected to cross he one billion mark, but it is unfortunate that he country depends largely on imported devices, he said.
Digital India, he said, is a robust programme, aimed more at the poor and includes digital in rastructure and digital literacy.
On July 1, there will be a massive inauguration of Digital India programme, the minister said.
The minister was speaking at the occasion of he software lobby group Nasscom and the India Electronics and Semiconductor Association IESA) signing a memorandum of understanding to jointly work to boost the government's Make in India and Digital India initiatives.
Through this partnership, the two industry groups are aiming for IT and Electronic System Design and Manufacturing (ESDM) to contribute 25% to the country's GDP by 2025 that propelled India into the world's top five economies Prasad said the government has so far received investment proposals worth Rs.65,000 crore while it has approved proposals worth Rs. 9,000 crore under the Modified Special Incentive Package Scheme, or M-SIPS programme, which aims to promote large-scale manufacturing in the ESDM sector.
Under the M-SIPS programme, a subsidy of 20% in capital expenditure is given to companies for investment in SEZs and 25% in non-SEZs.
In the past one year, the telecom sector has emerged as the largest contributor to foreign direct investment in India, Prasad said, adding that the government has taken many initiatives to spur growth.
Manufacturing, he said, is crucial as it drives economic growth and revenue for the country.
India's mobile penetration is expected to cross he one billion mark, but it is unfortunate that he country depends largely on imported devices, he said.
Digital India, he said, is a robust programme, aimed more at the poor and includes digital in rastructure and digital literacy.
On July 1, there will be a massive inauguration of Digital India programme, the minister said.
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