21 June 2016 Current Affairs: The department of electronics and information technology (DeitY), government of India today gave its final approval for setting up of a greenfield electronic park within the Infovally complex, a dedicated IT hub, on the outskirt of Bhubaneswar.
The park, to be set up under Electronic Manufacturing Cluster (EMC) scheme of the Centre, will come up on 203 acres of land at a cost of Rs 205 crore. Out of this, the government of India will give a grant of Rs 95 crore with the rest being contributed by the state government.
The money will be spent on creating common infrastructure for about 100 units to be housed within the park. Apart from developed land, road, power, water and recreation facilities, the park intends to provide common facilities for training, incubation and R & D activities to the interested entrepreneurs.
As per India Electronics and Semiconductor Association (IESA), the premier trade body representing the Indian Electronic System Design and Manufacturing (ESDM) industry, the park is expected to attract industries with combined investment value of Rs 1000 crore and employment potential of 10,000 to 12,000 persons.
The product range of units to be located in the park could range from manufacturing of solar panels and printed circuit boards to mobile handsets and accessories.
electronic system design and manufacturing is a thrust area of the state ITC policy, 2014. Apart from the benefits prescribed under ITC policy, the units to be located in the park will be eligible for sops provided under state's Industrial Policy Resolution (IPR), 2015 such as VAT, electricity duty and EPF reimbursement etc.The DeitY had given its in-principle approval to the park in 2014.