Model Economic Township Ltd (earlier known as Reliance Haryana SEZ Ltd) is planning to invest Rs. 13000 million in Haryana to develop an electronic manufacturing cluster and footwear park. The company has signed an MoU with the state government in March 2016 regarding the project. It has already developed 290 acres where Japanese major Panasonic and Denso have set up their facilities. It has potential to accommodate about 100 units in both electronic hub and footwear park over a period 3-5 years.
India is witnessing a six-fold jump in proposed investments in local electronic manufacturing to USD $16.8 billion. Government of India has received 156 proposals with investment commitment over 16 billion USD in the last 20 months according to IESA. Many major well-known global brands like Samsung, Foxconn and LG have submitted proposals. With India, driving local production of defence, related defence electronics and avionics as part of its overall indigenisation efforts are also taking place.
Modified Special Incentive Package Scheme (M-SIPS), which was rolled out as part of the National Policy on Electronics 2012, has now been extended until July 2020 and the government hopes to boost India's electronics sector to $400 billion by 2020. by then. India is expected to leapfrog the US
Investment in the electronics manufacturing sector has jumped over six-fold in a year to reach Rs. 1.14 lakh crore by December 2015. As many as 159 units attracted investment as a result of progressive 'Make in India' policy. Further, Modified Special Incentive Package Scheme (MSIPS) by the Department of Electronics and IT (DEITY) has given thrust to industry by including 15 more categories across the consumer durables within its scope.
According to CEAMA, there has been a steady increase in the manufacturing base of Consumer Electronics & Home Appliances in six months, in particular the set top boxes. Till recently the market of Set Top Boxes have grown to nearly 5 million, and in the meantime it is expected that in the near future up to 70 per cent of manufacturing of STB?s will be done