Maharashtra government approves amendment to Electronics Policy to boost manufacturing activity

The state cabinet on Wednesday gave its nod to the amendment of the Electronics Policy, 2016 to boost the manufacture of electronic goods and as generate employment

The state cabinet on Wednesday gave its nod to the amendment of the Electronics Policy, 2016 to boost the manufacture of electronic goods and as generate employment in the state.

State industries minister Subhash Desai said the amendment would create around 60,000 more jobs in the state. (HT Photo)

State industries minister Subhash Desai said the amendment will help boost the sector. “Firms will invest ₹20,000 crore in this sector, which will yield an annual production of electronic items worth ₹1 lakh crore. If we calculate GST (goods and services tax) of 12%, we can garner at least ₹12,000 crore in taxes,” he added.

Desai said that through the amendment, 60,000 more jobs can be generated in the state. “After petroleum products, electronics occupy the second rank in imports, thus draining away our precious income in procuring these goods. There was hardly any manufacturing activity in the state, and all that was done was assembling the parts imported from various countries. If we manufacture them here, we will save money and also add to our economy and generate new jobs,” he added.

The Electronics Policy was first approved in 2016 by the then Bharatiya Janata Party-led Devendra Fadnavis government. It promised to remove all red-tapism and attract industries to set up shop in the state.