Hyderabad: The Ministry of Electronics and Information and Technology has given approval for two electronics manufacturing clusters called Electronics Park in Telangana. While the first one is all set to come up in e-city at Raviryal, 20 km from Shamshabad International Airport, the second one will come up in Maheshwaram Science Park at Maheshwaram.
The e-city park was approved by the Centre on July 31, the second park was approved on Friday, a senior official of the Telangana government told Telangana Today. Meanwhile, the additional secretary at MEITY Ajay Kumar tweeted Approval by @GoI_MeitY for 310 acre Electronic Mfg Cluster by @TSIICLtd in (Maheshwaram) Hyderabad. Project cost Rs 437 crore.
— Ajay Kumar (@drajaykumar_ias) August 4, 2017
On July 31 he had also tweeted Approval by @GoI_MeitY for 600 acre Electronic Mfg Cluster to be set up by TSIIC in (Raviryal) Hyderabad. Project cost Rs 667 crore.
Confirming the development, Telangana IT Secretary Jayesh Ranjan told Telangana Today, “Ending today, the Centre has given final approval for setting up the electronics parks in the State which will be set up in an overall area of about 950 acres.” The total project cost will be about Rs 1,104 crore, which could be split between the State and the Centre.
Now the State plans to attract electronic companies to make investment in the park and set up their units. It will serve both assembly as well as manufacturing units and will have common facilities that the companies can use.
A huge domestic market exists in conjunction with the right set of ingredients to create a thriving electronics manufacturing sector. The sector will not only attract manufacturers to the State and bring in more investments, but also will provide jobs to thousands of skilled youth. Hyderabad today houses over 250 companies, both large and small which together employ over 50,000 professionals.
In its Electronics Policy unveiled last year, Telangana has set a goal of attracting investments to the tune of $3 billion in the electronics sector, create an employment of 1,60,000 and enhance production from approximately $1 billion to $7.5 billion by 2020.
Electronics manufacturing industry is one of the largest and fastest growing industries globally. The $1.75 trillion industry is expected to reach $2.4 trillion by 2020. The demand in the Indian market is expected to reach $400 billion by 2020, as per estimates.