Govt plans devt. fund to promote R&D in IT sector

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SME Times News Bureau | 10 May, 2012
The government is planning to set up an electronic development fund to promote innovation and commercialisation of products in the IT sector.

"Under the draft National Policy on Electronics 2011, it has been proposed to create an electronic development fund to promote innovation, R&D, commercialisation of products in the IT sector," Minister of State for Communications and IT Sachin Pilot told the Lok Sabha.

The policy also proposes to provide incentives for setting up of over 200 electronic manufacturing clusters (EMCs) with world class logistics and infrastructure and easy to do business facilities.

The support is intended for greenfield EMCs and upgradation of brownfield EMCs.

The draft national policy was announced in October 2011 and put in public domain for consultations. The policy has not yet been finalised.