Four ESDM firms diversify manufacturing base from China to India: Som Parkash

By: |
February 10, 2021 8:47 PM

Replying to a written question in the Lok Sabha, Minister of State for Commerce and Industry Som Parkash said there are several companies that have indicated their plan/interest to relocate their bases.

Four ESDM firms diversify manufacturing base from China to India: Som Parkash"4 companies in the ESDM sector have diversified their manufacturing base from China to India," he added.

Four firms in the electronic system design manufacturing (ESDM) sector have diversified their manufacturing base from China to India, Parliament was informed on Wednesday.

Replying to a written question in the Lok Sabha, Minister of State for Commerce and Industry Som Parkash said there are several companies that have indicated their plan/interest to relocate their bases.

He also said that employment for 31,509 people is likely to be generated from the relocation projects at present.

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“4 companies in the ESDM sector have diversified their manufacturing base from China to India,” he added.

In a separate reply, Parkash said that till January 27 this year, 1,402 startups are recognised by the Department for Promotion of Industry and Internal Trade (DPIIT).

It had recognised 14,778 startups in 2019.

“An amount of Rs 4,376.95 crore has been committed by SIDBI to 62 Alternative Investment Funds (AIFs) out of the Fund of Funds for startups as on January 31, 2021,” he added.

Replying to a separate question on the export of COVID vaccine, Minister of State for Commerce and Industry Hardeep Singh Puri said that vaccines, including COVID vaccines, are covered under a common ITC HS codes.

In trade parlance, every product is categorised under a code. It helps in the systematic classification of goods across the globe.

India’s export of vaccines, including COVID vaccines, stood at around USD 353 million during April-January 2020-21.

“Government has granted permission to Serum Institute of India Pvt, Ltd., Pune and Bharat Biotech International Ltd, Hyderabad for the manufacture of COVID-19 vaccines.

“Close coordination is being maintained through regular interaction between relevant Departments of the Government of India and vaccine manufacturers to ensure adequate availability of COVID-19 vaccines for the national vaccination programme,” he added.

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