VIT's Chamber to Hold State-level Meeting on Electronics Industry

Published: 26th November 2015 04:48 AM  |   Last Updated: 26th November 2015 04:48 AM   |  A+A-

VELLORE: The Southern India Electronic Industries Chamber (SIEIC) attached to the VIT University Technology Business Incubator is organizing a state-level meet on Friday (November 27) in Chennai to create awareness of various government schemes that would improve the eco-system in the value chain of electronics manufacturing in the state.

S Nagarajan, state president of the chamber which comprises electronic, system design and manufacturing companies working closely with the ministry of electronics and community, said that the event will be held at Saveetha Engineering College premises between 2 and 5 pm. He said that the Indian government was keen to promote national policy of electronics (NPE) and has announced many schemes to eliminate hurdles in the industry. The significance of the NPE is to trigger indigenisation of electronic products and modernisation of product and process technology to reduce the current account deficit of the country.

“The chamber is of the opinion that there is a big technological gap prevailing among MSME electronics industries that have weakened them to compete globally which needs to be addressed.  We want to promote activities towards skill and knowledge development, research and technology transfer among the cluster of electronic industries in the region. Unfortunately many of the MSME companies in the sector are unaware of the schemes being promoted under NPE and it is to address this issue that this state-level meet will help,” he pointed out.

Officials from the ministry of electronics and communication, MSME, CanBank Venture and other organisations will detail the schemes focusing on modified special incentive package scheme (MSIPS) under which any existing company can avail a grant of 25 per cent of any new investment in the electronic sector, research and development under MSIPS, electronic development fund which is intended to promote product development, technology transfer and indigenisation and skill development aspects of the entrepreneurs. Nagarajan said that the chamber has extended an appeal to all the entrepreneurs to make use of the opportunity.

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