Proposals worth R4K cr cleared in electronics sector: Prasad

In line with the prime minister’s call for a ‘Digital India’, the central government has approved Rs 4,000 crore worth of investments over the past six months for setting up electronics clusters, which will boost manufacturing of information technology equipment in the country, telecom minister Ravi Shankar Prasad said.

“The prime minister has stressed on the importance of IT in the country’s future. When I assumed office, I found out that a very low percentage of telecom equipment was manufactured in India. Since then, we have received proposals worth Rs 18,000 crore to develop such electronics clusters. We will extend all support to manufacturing in these clusters to promote Make In India campaign,” Prasad said at FICCI’s annual general meeting.

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The minister said that he was open to “tweaking” policies if needed to boost investor confidence.

Meanwhile, transport  minister Nitin Gadkari said that he will meet the heads of various banks in a month’s time to address the issue of fund crunch in the sector and make a presentation detailing why they should resume investing in roads projects.