Centre to set SIRs for IT hardware makers
Centre to set SIRs for IT hardware makers Centre is to mulling setting up special investment regions (SIRs) for electronics and IT hardware makers to attract multi-billion dollar investments, reports Economic Times.
The IT industry manufacturing industry, which is expected to become an USD 155 billion industry in the next coup le of decades from USD 43 billion now, is looking for overseas investments.
It is learnt that manufacturing units set up in SIRs would be entitled to tax sops and other incentives, which may be at par with units in special economic zones. These proposed investment hubs would be developed on the lines of the integrated modern townships for sunrise industries, which the government is working on. Townships for sectors such as media, biotech and pharma will be formulated by a group set up the PM`s office.
Final decision on sops, which will be available to units in SIRs have not been finalized by DIT.But the department is now studying the technical and financial issues related to the investment regions.
A eight-member Chinese delegation had visited India to find possible investment opportunities in IT hardware and electronics manufacturing.
