India can provide export incentives for 10 more years under the WTO, says Sibal
GN Bureau | January 21, 2013
Of late, government unfolded a policy framework for creating an ecosystem of Electronics System Design and Manufacturing (ESDM) in the country. The new policy has been formulated to cover sectors like avionics, automotive electronics, medical electronics, LEDs.
Speaking at a roundtable on ESDM, Sibal said that while the policy framework has been created, several steps need to be taken to enhance ease of business and reduce transaction costs. He said that the government has provided for a time line for approving all projects under the modification of special incentive package scheme (MSIPS).
During the industry meet, Sibal also received the first MSIPS application of over Rs 550 crore investment from Bosch Electronics India.
"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," Sibal said.
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.
He 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 urged the industry leaders.
The dazzling diamond trade has been hit hard by the Nirav Modi episode, which saw the billionaire jeweller flee India just before a massive fraud amounting to Rs 11,000 crore was detected at a Punjab National Bank branch in Mumbai. But, Nirav Modi is not the only diamond tycoon who has been
PM Narendra Modi on Sunday laid the foundation stone for Rs 16,700 crore Navi Mumbai International Airport. The first phase of the construction is expected to be completed by December 2019. The project is going to be implemented 21 years after it was first proposed. The airport is likely to handle 10 milli
Health groups have expressed their disappointment with a February 12 order of the supreme court, refusing to review or recall an earlier order disposing off a case against the mala fide suspension of the vaccine public sector units (PSUs) and government’s tendency to pamper private sector with public
The Punjab National Bank`s fraudulent transactions worth Rs 11,300 crore should act as a strong trigger for the government for reducing its stake to less than 50 percent in the banks which should then be allowed to work on the lines of private sector lenders with a full sense of accountability to their sha
Budget 2018, forecast to be a “please all” budget, has come out as a “disappoint all” budget. The public is looking askance at a budget that gives with one hand but takes away with both, the Sensex has gone into a tailspin and the pink papers are issuing dire warnings.
Should public sector banks be privatised?