Andhra and Telangana to get electronic manufacturing clusters soon

The Ministry of Electronics and Information and Technology (MeitY) on Monday approved a proposal to set up two electronics manufacturing clusters -- one each in Telangana and Andhra Pradesh -- at a

Published: 01st August 2017 09:08 AM  |   Last Updated: 01st August 2017 09:08 AM   |  A+A-

By Express News Service

MUMBAI: The Ministry of Electronics and Information and Technology (MeitY) on Monday approved a proposal to set up two electronics manufacturing clusters -- one each in Telangana and Andhra Pradesh -- at a cost of Rs 667 crore and Rs 340 crore, respectively. In his tweets, Ajay Kumar, additional secretary, MeitY stated that the Centre has given approval for 500-acre electronic manufacturing cluster to be set up by the Andhra Pradesh Industrial Infrastructure Corporation in Chittoor in Andhra Pradesh at a project cost of Rs 340 crore. A 600-acre electronic manufacturing cluster is to be set up by TSIIC in Hyderabad at a cost of cost Rs 667 crore. Reacting to the development, Telangana IT and industries minister K T Rama Rao tweeted, “Thanks Ajay Ji (Ajay Kumar) for the good news.”


The two centres are part of the 2013 Electronics Manufacturing Clusters (EMC) scheme to encourage local manufacturing of electronic components and to reduce dependence on the import of electronic components from countries such as China and South Korea.The EMCs scheme provides grant assistance for setting up of both greenfield and brownfield EMCs across the country. 


The financial assistance under the scheme is in the form of grant-in-aid only. According to officials in MeitY, the process to set up a project is simple. An application can be made by a special purpose vehicle created for the purpose or by a chief promoter who may be a public-sector or private-sector entity. 
The Rs 667-crore project in Telangana will be generated through a mix of grant and resources from proposed units. It will have central grant of Rs 240 crore and the remaining Rs 437 crore would be mobilised by the state government and through units, which are interested to set up shop in the cluster.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp