Home News EMC Attracts 914 Cr Invest

EMC Attracts 914 Cr Invest

New Delhi: The Greenfield Electronic Manufacturing Cluster (EMC) in Info-valley, Bhubaneswar, has attracted investment commitment of about Rs 914 crore from seven companies.

Union Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar has informed this in Rajya Sabha on Friday in a written reply to a question raised by BJD member Sasmit Patra.

The Ministry of Electronics and Information Technology (MeitY) notified the Electronics Manufacturing Clusters (EMC) scheme in October, 2012 to provide support for the creation of world-class infrastructure along with common facilities and amenities for attracting investments in the electronics sector.

Under the scheme, Odisha Industrial Development Corporation (IDCO), a State Government undertaking, accorded approval for establishment of Greenfield Electronics Manufacturing Cluster in 2016 with project cost of Rs.200.76 crore including Central Grant-in-aid of Rs. 93.09 crore, he said.

This EMC is poised to attract an investment of about Rs. 979 crore and have potential to generate 10,000 employment opportunities. An investment commitment of about Rs 914 crore has already been received from 7 land allottees with employment potential of 4,603 persons, said Mr.Chandrasekhar.

Similarly, the MeitY launched Technology Incubation and Development of Entrepreneurs (TIDE 2.0) scheme in the year 2019 to promote tech entrepreneurship through financial and technical support to incubators engaged in supporting ICT start-ups primarily engaged in using emerging technologies leading to handholding of approximately 2,000 tech start-ups over a period of 5 years.

Under the above scheme, two incubation centres at KIIT Technology Business Incubator, KIIT University and Foundation for Technology & Business Incubation (FTBI), NIT Rourkela have been approved. As of now, about 15 start-ups have been on-boarded in both the centres, said the Union Minister.

For promoting IT/ITES/ESDM industry and tech start-up ecosystem in the State, four STPI Centres at Bhubaneswar, Berhampur, Rourkela and Balasore have been made operational. More than 250 IT/ ITeS companies including major giants like Infosys, TCS, Wipro, Tech Mahindra, Mindtree and Capgemini etc. have registered under Software Technology Parks (STP) scheme and have their back office/branch office in the State.

These IT/ITeS units located in Odisha have exported about Rs 2,566 crore in the financial year 2021-22. The STPI is also coming up with four new STPI centres at Angul, Jajpur, Sambalpur & Koraput (Jeypore), he stated.

The STPI has been implementing Next Generation Incubation Scheme (NGIS) with focus on 12 Tier-II cities including Bhubaneswar with a budgetary outlay of Rs. 95.03 crore over a period of 3 years. The scheme targets to support 300 innovative start-ups with seed funds of up to Rs. 25 lakh.

Similarly, the MeitY through STPI, has established 20 Centre of Entrepreneurship (CoE) across India including two located in Bhubaneswar. These CoEs are targeted to provide comprehensive support & infrastructure for start-ups & innovators engaged in these sectors.

Moreover, 21 BPO/ITES units are either operational or completed their tenure providing employment to 2,520 persons in the State under India BPO Promotion Scheme (IBPS).