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Union Budget 2018 – MeitY Proposes Conducive Industrial Policies to Attract Private Investment in the ESDM Sector

Ministry of Electronics and Information Technology (MeitY) has worked on a new draft Information Technology policy with due focus on the ESDM (Electronic System Design & Manufacturing) sector.

Union Budget 2018

Ministry of Electronics and Information Technology (MeitY) has worked on a new draft Information Technology policy with due focus on the ESDM (Electronic System Design & Manufacturing) sector, MeitY Joint Secretary Sanjay K Rakesh said.

Speaking at an event lately, the MeitY official said that in last few years, there has been a sea change in government’ s policies, as far as the IT Sector is concerned and so in addition to IT & ITeS sector, the Ministry was also emphasising on indigenous manufacturing of ESDM products.

He said the government was now encouraging States to come up with more conducive industrial policies to attract private investment in the ESDM sector.

The two day event was organized by industry body Indian Chamber of Commerce in association with India Electronics and Semiconductor Association (IESA).

Focussed on ESDM products manufacturing in India, the event saw participation of government officials from different states and other stake-holders in ESDM space.
States like Andhra Pradesh and Karnataka have really flourished in this respect, although response from Eastern and North-Eastern States has been found relatively laggard in this respect, he further said.

Participating in the discussion Principal Secretary of the Department of Electronics & Information Technology of Haryana Devender Singh while highlighting the investment opportunities in ESDM sector in Haryana said that apart from being a BPO Hub of India, Haryana was now strongly focusing on manufacturing of ESDM products in the State.

“Particularly in sub-sectors like ‘Automotive Electronics, IT and ‘Telecom’; the state is really striving ahead,” Singh said.
Singh also mentioned about a few factors like State’s strategic location, connectivity through ‘industrial corridors’ and existence of a well-designed ‘GST Regime’, that could add great value to the profitability factor of any private investor in the ESDM sector.
In one of the session of the event, Vice President Marketing Strategy, Fintech at Government of Andhra Pradesh

Richa Shrivastava gave a crisp presentation on “Transforming the future for Fintech: How to create a new value proposition for the State?”

Ms. Shrivastava presented an overview of Indian Fintech Ecosystem and spoke about incentives like ‘Preferential Market Access” to Government Projects to Fintech Start-Ups.
Ms. Deepthi Ravula, Joint Director – IT, Electronics & Communication Department of Telengana gave an elaborate presentation on “Electronics in Telengana”.

Ms. Ravula mentioned that, as the second largest Indian State in IT Export, Telengana has made tremendous progress in the ESDM sector.

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