Minister of State for Electronics and IT Alphons Kannanthanam has informed Parliament that electronic firms shortlisted for incentives by the government for manufacturing their products in India have invested Rs 3,585 crore in 72 projects up till September this year.
“As per the reports provided by the applicants approved under MSIPS, as on 30-09-2017, a total of Rs 3,585 crore has been invested in 72 projects resulting in employment generation of 27,804 persons (direct and indirect),” he said, in a written reply to the Lok Sabha.
The Minister further said the government has approved 134 applications under Modified Special Incentive Package Scheme (MSIPS) to date. The MSIPS scheme provides a subsidy for capital expenditure — 20 percent for investments in special economic zones (SEZs) and 25 percent in non-SEZs.
Kannanthanam added: “So far, under the MSIPS scheme, incentives of Rs 122.06 crore have been disbursed to the 11 applicants, out of which, the capex subsidy is Rs 113.94 crore and tax reimbursement is Rs 8.13 crore.”
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