Government gets proposals worth Rs.1.10 lakh crore under MSIPS

New Delhi, Aug 14 (IANS) The government on Friday said it has received investment proposals worth Rs.1.10 lakh crore in the past one year under the MSIPS electronics manufacturing scheme.

Ajay Kumar, additional secretary in the communications and information technology ministry, said: “Investment proposals worth Rs.1,10,000 crore have been received in the electronics sector in the last one year.”

He was speaking at a conference on ‘Make in India: Bright Prospects of LED Manufacturing’ organised by the PHD Chamber of Commerce and Industry here.

Earlier, the government had extended the ‘Modified Special Incentive Package Scheme’ (MSIPS) by five years and also expanded the scope of the programme to cover 15 new product categories to boost manufacturing of electronics items.

The decision was taken at a cabinet meeting headed by Prime Minister Narendra Modi to promote ‘Make In India’ and ‘Digital India’ initiatives, sources said.

The demand for electronics in India is expected to reach $400 billion by 2020. The electronics sector has the potential to attract $100 billion investment and provide jobs to 28 million people.

The 15 new product categories included in the MSIPS are smart cards, consumer appliances (like washing machines, refrigerators, air conditioners), electronic product design, optical fibres and Internet of Things (IoT) products, among others.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here