Four companies in the electronic system design manufacturing (ESDM) sector plan to move their manufacturing base from China to India, informed Minister of State for Commerce and Industry Som Parkash. “There are several companies that have indicated their plan/interest to relocate their bases,” he said in a reply to a written question in the Lok Sabha.
He also said that employment for 31,509 people is likely to be generated from the relocation projects at present. “4 companies in the ESDM sector have diversified their manufacturing base from China to India,” he added.
In a separate reply, Parkash said that till January 27 this year, 1,402 startups have been recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). It had recognized 14,778 startups in 2019. “An amount of Rs 4,376.95 crore has been committed by SIDBI to 62 Alternative Investment Funds (AIFs) out of the Fund of Funds for startups as on January 31, 2021,” he added.
Replying to a separate question on the export of Covid-19 vaccine, Minister of State for Commerce and Industry Hardeep Singh Puri said that vaccines, including Covid-19 vaccines, are covered under a common ITC HS codes. India’s export of vaccines, including Covid-19 vaccines, stood at around USD 353 million during April-January 2020-21.
