Modi’s 3 years: Electronics Sector gets Rs 1.43 lakh crore investment

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After the launch and consequent robust promotion of the Make in India drive by Narendra Modi-led NDA government, the sheer effort has been paid off in the form of Rs 1.43 lakh crore worth of investment in the electronics sector from multinationals as well as domestic companies, Law & IT Minister Ravi Shankar Prasad said on May 20, 2017.

Three years ago, with the exit of the UPA government, the sectoral investment was merely Rs 11,000 crore which according to the department has grown manifold, thanks to initiatives as Make in India, and the aura of significance that current government is trying to radiate.

The Ministry of Electronics & IT (MeitY) on May 20, 2017, highlighted major achievement of Modi government with its flagship umbrella program Digital India that was announced on July 1, 2015.

Major Highlights of the three years of Modi Govt. Administration:

  • Government expects that India’s digital economy would become a $1 trillion worth sector, which according to Prasad would be achieved within next five to six years.
  • MeitY has roped-in New York-based consultancy firm McKinsey & Company to prepare a roadmap for digital economy, and Niti Ayog to advice on National Planning.
  • Prasad claims that BharatNet, previously National Optic Fibre Network, has reached to 90,000 village blocks or gram panchayats with 2.05 lakh kilometres of fibre cable laid till date, which according to him was only 358 kilometres when this government came to power in May 2014.
  • The government will allocate Rs10,000 crore for expanding the BharatNet project in FY18. By 2017-18-end high speed, broadband will reach more 150,000 gram panchayats via Wifi hotspots.
  • 2.50 lakh village panchayats are to be connected by December 2018, said Minister of State for Law & ITPP Chaudhary said, adding that 83 crore people living in rural India would be connected with the Internet to take benefit of services such as e-health and e-education.
  • The government will launch two schemes to promote the use of BHIM app to encourage digital transactions. So far, 1.5 core people have adopted the BHIM app. The app will also have merchant discounts.
  • The government is also opening Cyber Coordination Centre by June end in addition to a separate Computer Emergency Response Team (India) CERT-In for the power sector, on the lines of a Cert-In for financial transactions.
  • Finance Minister Arun Jaitley announced Rs 745 crore incentives for electronic manufacturing in the country. The government has so far received over 250 investment proposals worth Rs 126,000 crore in the electronic manufacturing sector to make phones and television sets in India.
  • The government has tweaked customs and central excise duty structure to promote Make in India.

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