German companies keen to invest in India: Ravi Shankar Prasad

Days before Prime Minister Narendra Modi, plans to launch 'Make in India' programme to boost local manufacturing, Telecom Minister Ravi Shankar Prasad said that German electronic firms have shown interest in India, as per a PTI report.
German companies keen to invest in India: Ravi Shankar Prasad
Days before Prime Minister Narendra Modi,  plans to launch 'Make in India' programme to boost local manufacturing, Telecom Minister Ravi Shankar Prasad  said that German electronic firms have shown interest in India, as per a PTI report.
 
"I had gone for a week to see electronic manufacturing in Germany and had a very fruitful exchange with electronics manufacturing community in that country. They are very much excited to come in India in a big way," Prasad said at an event organised by industry body Assocham.
 
German firms have shown interest in areas such as mobile phones, SIM/smart cards and smart cities.
 Make in India programme is scheduled for launch on September 25.
 
Prasad said, India is now importing electronics good worth USD 100 billion year and the import bill is likely to cross USD 400 billion by 2020.
 
He said, that government has given lot of incentives to electronics sector in Budget 201-15 as corrective measure to boost local production and reduce import bill.
 
"We improved MSIPs (modified special incentive package) programme. I started engaging with state Chief Ministers so that we can give job to over 2 crore people. I am going to lay first cluster foundation in first week of next month in Madhya Pradesh," Prasad said.
 
He expressed, satisfaction over the rapid growth of e-commerce and said it can be linked to boost domestic electronic manufacturing.
 
At another event, organised by All India Management Association, Prasad talked about electronic chip manufacturing plants that were approved by the Cabinet in February involving investment of about Rs 63,000 crore.
 
"As far as semiconductor is concerned, two initiatives have been taken, work is in progress, some of them are arranging finance, others have gone into it. We have a lot of incentives available for them, we are pursuing them," he said.
 
Further, German semiconductor firm Infineon said in a statement that Prasad met Arunjai Mittal, Member of the Management Board of Infineon Technologies AG and invited investments to India.
 
"Mittal gratefully accepted the invitation to a return visit to India. Infineon will remain in dialogue with the Government of India," Infineon said.
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