Kapil Sibal meets foreign representatives to attract investment

Kapil Sibal meets foreign representatives to attract investment Communications & IT Minister Kapil Sibal met representatives from various countries tech-savvy countries as part of the government's efforts to India as an investment hub for electronics manufacturing.

Mr. Sibal met ambassadors and heads of chambers of commerce from countries like Germany, Japan, South Korea, Taiwan, the US and UK.

Following the meeting, Mr. Sibal said that the representatives had raised some points, which were successfully clarified during the meeting.

He also claimed that he received largely positive responses from the representatives. He also pointed out that foreign investments in the electronics sector would generate many jobs.

Speaking to reporters, he said, "By and large, we had positive responses from all the representatives, and they all want to invest in India, which will also generate many jobs to our people."

The minister also clarified that he told the foreign representatives that specific items would fall under the preferential market access (PMA) fold.

Under the Modified Special Incentive Package Scheme, India has received investment proposals worth Rs 2,000 crore in the electronics manufacturing sector. Of the total proposals, the government has already cleared projects worth Rs 1,000 crore.