MeitY to push for more sops to lure electronic makers

NEW DELHI: The Ministry of Electronics and IT (MeitY) will push the finance ministry to approve additional incentives to attract electronics manufacturers into the country, according to two government officials.

The sops include interest subsidy on loans, credit guarantees for plant and machinery and renewal of the Electronic Manufacturing Cluster (EMC) scheme after the earlier one ended last year, they said.

The incentives will help India wean manufacturers away from countries such as China, officials said, especially after the government said that new manufacturing units would be taxed at15%.