Electronics Manufacturing Cluster scheme targets Rs.20,910cr investments
Minister of State for Electronics & IT Rajeev Chandrasekhar has announced the setting up of Rs.180 crore Electronics Manufacturing Cluster (EMC) at Kotur-Balur Industrial Area in Dharwad District of Karnataka, which is expected to catalyse over Rs.1,500 crore soon.
Nine companies, including start-ups have already committed to make investment of Rs.340 crore, he said in Bengaluru on 24 Mar 2023.
Karnataka is emerging as a global electronics manufacturing hub for the world, just as it is already a telecom hub with Apple plants in Kolar (Wistron) and Devanahalli (Foxconn), said Chandrasekhar.
These new investments are creating jobs and development as per the Government’s commitment to build India as a manufacturing hub as part of its ‘Atmanirbhar Bharat’ policies, he said.
This EMC has strategic locational advantage and well connected with NH-48 (1 Km), Hubli Domestic Airport (33 Km) which will reduce the logistics and transportation cost of the industry in the EMC.
The Centre has already approved a Common Facility Centre (CFC) for development of an advanced testing facility in Mysore, Karnataka, that will meet the various testing requirement of the industry.
The Modified Electronics Manufacturing Cluster (EMC 2.0) scheme was introduced on 1 April 2020 with an objective to create world class infrastructure along with common testing facilities, including Ready Built Factory sheds and Plug & Play infrastructure for attracting Anchor unit along with their supply chain to set up their manufacturing/production facility in the country.
Under the Scheme, three Electronics Manufacturing Clusters over an area of 1,337 acres with project cost of Rs.1,903 crore, including Central financial assistance of Rs.889 crore, have been approved which projected investment target of Rs.20,910 crore. fiinews.com
