India’s first Electronic Manufacturing Cluster to be set up in Andhra Pradesh
India’s first Electronic Manufacturing Cluster (EMC) will be coming to Andhra Pradesh. EMC has been designed and developed for providing facilities and amenities for manufacturing mobiles and allied products.
The Union Government, through Ministry of Electronics and Information Technology (MeiTY) in 2012 had announced about setting up EMC in India, with grant-in-aid for establishing such clusters.
In 2015, Andhra Pradesh Government had announced first exclusive mobile and electronic manufacturing cluster in the new capital city Amaravati. State Government had allotted 113.27 acres of land for new cluster, through Andhra Pradesh Industrial Infrastructure Corporation (APIIC).
For this purpose, a Special Purpose Vehicle (SPV) called Sri Venkateswara Mobiles and Electronics Manufacturing Hub Private Limited was formed. The foundation stone was laid by Prime Minister Narendra Modi in 2015. The SPV Company has applied for final approval of project to Union Government. Three major Indian mobile manufacturers – Celkon, Karbonn and Lava have come forward to establish their units in EMC.
Besides, an anchor unit has been formed in name of Seven Hills Digital Park Private Limited (SHDPPL) for three companies. It will be involved in manufacturing of accessories to mobile phones and other related electronic equipment. The EMC will generate around 50,000 jobs every year.
Categories: Business & Economy Current Affairs 2018