Kapil Sibal, Minister of Communications and IT released a special issue of the magazine YOJANA, themed on Electronics System Design and Manufacturing ( ESDM) and Information Technology (IT), in New Delhi.
Unveiling the Journal , Sibal said ESDM is the next sunrise sector for India and that the fast growing demand for electronics hardware in the country coupled with our growing strengths in Semiconductor Chip design provide a huge opportunity for India to become a globally competitive electronics hub. The Minister said in the coming months, the effort will be to create greater awareness and marketing of the new policy initiatives and therefore it is very timely that YOJANA has dedicated its September edition to Electronics and IT.
He said the Dept of Electronics and IT ( DeitY) 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% of the capital investment in non-SEZ area and 20% 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.
Other major policy initiatives which have been approved by the 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.
J Satyanarayana, Secretary, DeitY, Ms Ira Joshi, ADG, Publications Division and senior officials of DeitY and Publications Division were present on the occasion.
YOJANA, a monthly publication of Planning Commission, with 1.4 lakh print copies comes out in 13 Indian languages including English.