Govt approves electronics manufacturing cluster in Maharashtra with Rs 493 cr outlay | The Financial Express

Govt approves electronics manufacturing cluster in Maharashtra with Rs 493 cr outlay

The project is aimed at boosting the electronics manufacturing hub in Maharashtra and aims to attract Rs 2,000 crore investment and generate 5,000 job opportunities.

Govt approves electronics manufacturing cluster in Maharashtra with Rs 493 cr outlay
Pune-based Centre for Development of Advanced Computing (C-DAC), will be the nodal office for the future design programme, MeitY said. (Representational image)

Ministry of Electronics and Information Technology (MeitY) on Monday approved setting up of an electronics manufacturing cluster (EMC) in Ranjangaon Phase III in Maharashtra with a cost of Rs 492.85 crore. The project is aimed at boosting the electronics manufacturing hub in Maharashtra and aims to attract Rs 2,000 crore investment and generate 5,000 job opportunities.

“We already have EMCs in Noida, Tirupati, Karnataka and Tamil Nadu — wherein both multi-national companies and Indian startups have set up their units. The Government of India is the enabling partner in these EMCs and it is working in tandem with the state governments to make these EMCs a catalyst for the electronics manufacturing in the state,” Rajeev Chandrasekhar, minister of state for IT said.

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“These EMCs will prove to be the pivot points around which the electronics manufacturing and design ecosystem shall flourish in the years to come — taking India towards its target of $300 billion of electronics manufacturing by 2025-26,” he said.

The Centre will work jointly with the Maharashtra government towards development to the electronics manufacturing cluster and will spend about Rs 208 crore as its share in the project.

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Additionally, the government will also conduct a roadshow in Pune to promote the Rs 1,000 crore Semicon India Future Design programme for supporting semiconductor design startups in the state. Pune-based Centre for Development of Advanced Computing (C-DAC), will be the nodal office for the future design programme, MeitY said.

In December 2021, the government has launched a Rs 76,000 crore production-linked incentive scheme for manufacturing of semiconductors and display manufacturing electronics in the country. Companies such as Vedanta-Foxconn joint venture, IGSS Ventures, ISMC, have committed to invest Rs 1.53 trillion for setting up semiconductor and display manufacturing plants.

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First published on: 01-11-2022 at 07:45 IST