Union Minister for Communications and IT Kapil Sibal chaired a round table on the electronics system design and manufacturing sector here today.
Over 50 industry leaders participated in the roundtable session. The Government has unfolded the new policy framework for creating an ecosystem of electronics system design and manufacturing in the country.
The new policy framework has been specifically formulated to cover sectors like avionics, automotive electronics, medical electronics, LEDs. This round table was organised to understand the needs and requirements of these sectors - to be dovetailed with the new policy.
At the round table, Sibal received the first MSIPS application of over Rs 550 crore investment from Head of Bosch Electronics India.
Sibal, during the round table pointed out that India's market and human resources will be huge determinants of this century.
The demographic profile of the world will increasingly move greater and greater economic activity to India, he added.
He pointed out that we are in the process of developing a scheme to scale up the number of PhDs in the country in the electronics sector, the target being to reach 2500 PhDs per annum by 2020.
Sibal exhorted the participants that there is also a huge opportunity to export from India. India can provide export incentives for 10 more years under the WTO-use that opportunity and export from India he said.
He said that while the policy framework has been created, he recognized several steps need to be taken to enhance ease of business and reduce transaction costs.
He also pointed out that we have provided for a time line for approving all projects under the MSIPS scheme. (ANI)