Govt to give Rs 10,000-cr incentive to electronic manufacturers

The Cabinet on Wednesday amended the Modified Special Incentive Package Scheme (M-SIPS) to boost electronic manufacturing. 

Under the amended rules, companies that invest in manufacturing would get up to Rs 10,000 crore as incentives. New investment proposals would be accepted till December 31, 2018, the government said in a statement.

In the case of a single investment in excess of Rs 6,850 crore ($1 billion), a separate committee headed by the cabinet secretary would approve the proposal. M-SIPS provides a subsidy for capital expenditure — 20 per cent for investments in Special Economic Zones (SEZs) and 25 per cent in non-SEZs.

Under the