New Delhi, Mar 21 : The Union Cabinet, chaired by Prime Minister Narendra Modi, on Saturday approved financial assistance to the modified Electronics Manufacturing Clusters (EMC2.0) scheme for development of world class infrastructure along with common facilities and amenities through Electronics Manufacturing Clusters (EMCs). It is expected that these EMCs would aid the growth of the ESDM sector, help development of entrepreneurial ecosystem, drive innovation and catalyze the economic growth of the region by attracting investments in the sector, increasing employment opportunities and tax revenues, said an official statement.
The EMC 2.0 scheme would support setting up of both Electronics Manufacturing Clusters (EMCs) and Common Facility Centers (CFCs). For the purpose of this Scheme, an Electronics Manufacturing Cluster (EMC) would be set up in geographical areas of certain minimum extent, preferably contiguous, where the focus is on development of basic infrastructure, amenities and other common facilities for the ESDM units. For Common Facility Centre (CFC), there should be a significant number of existing ESDM units located in the area and the focus is on upgrading common technical infrastructure and providing common facilities for the ESDM units in such EMCs, Industrial Areas/Parks/industrial corridors.
The total outlay of the propose EMC 2.0 Scheme is Rs. 3,762.25 crore, which includes the financial assistance of Rs. 3,725 crore and administrative and management expense to the tune of Rs. 37.25 crore, the government said. (UNI)