New Delhi, Aug 31 (ANI): Asserting that electronics system design and manufacturing is the next sunrise sector for the country, Telecommunication and Information Technology Minister Kapil Sibal on Friday said the fast growing demand for electronic hardware in the country, coupled with India's growing strength in semiconductor chip design, provide a huge opportunity for the country to become a globally competitive electronics hub.
Releasing a special issue of 'Yojana', dedicated to electronic system design and manufacturing and information technology here, Sibal said in the coming months, efforts will be made to create greater awareness and encourage marketing of new policy initiatives.
He described as very timely, the dedication to electronics and information technology in Yojana's September edition.
He said the Department of Electronics and Information Technology has taken several major decisions to make India a preferred destination for investments in the ESDM sector.
"The Modified Special Incentive Package Scheme (M-SIPS) provides 25 per cent of the capital investment in non-SEZ area and 20 per cent in SEZ area as financial incentive for the ESDM sector. Rs 10,000 crores has been earmarked for the scheme during XII Plan. The Minister said guidelines to operationalize the scheme would be finalized in September 2012 and applications under the scheme can be made from October 2012," he added.
He further said other major policy initiatives which have been approved by the Union Cabinet recently, for the ESDM sector, include providing preference to domestically manufactured electronic goods in government procurement and those electronic goods having security implications, setting up of semiconductor wafer fabs, and assistance for setting up Electronics Manufacturing Clusters.
Yojana, a monthly publication of the Planning Commission, with 1.4 lakh print copies comes out in 13 Indian languages including English. (ANI)
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