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Rs 1 lakh crore electronics manufacturing proposals for India: Prasad

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New Delhi: Communications and Information Technology Minister Ravi Shankar Prasad revealed India has received Rs 1,00,000 crore in the last fifteen months as investment proposals for electronics manufacturing in the country,  said on Thursday.

“I am happy to announce that in the last fifteen months, investment proposals worth Rs 104,000 crore have been received for electronics manufacturing in the country,” Prasad said at an International Chamber of Commerce event here supported by industry chamber FICCI.

Ravi_Shankar_Prasad_At_OfficeThe proposals come from various companies for electronics manufacturing under the Modified Special Incentive Package Scheme (MSIPS).

The scheme, originally approved by the government in 2012, provides capital subsidy of 20 percent in special economic zones (SEZ) or 25 percent in non-SEZ units engaged in manufacturing of electronics items. In July, the NDA government extended the MSIPS policy by five years.

In the recent period, global majors like Xiaomi and Motorola, along with Lenovo, commenced assembling smartphones in the country through contract manufacturing by Foxconn and Flextronics respectively.

“The Make in India programme evolved out of the initiatives taken for electronics manufacturing. When I assumed charge as minister last year, there were only two electronics clusters in the country. Now there are 20,” Prasad said.

He pointed out that the Digital India programme was transformational and designed to bridge the divide between the “digital haves and have-nots”.

“The common man is using digital technology for doing business and for his empowerment. In the prime minister’s scheme of things, Digital India is for the poor and the underprivileged,” he said.

“Digital India is politics neutral, ideology neutral, centre-state neutral. It is India positive,” he added.

(IANS)

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Facebook Pledges To Invest $100 Million For Supporting Coronavirus-Hit Journalism Industry

Facebook said the new commitment builds upon $300 million it has committed already to serving journalists around the world through diverse and inclusive news programmes and partnerships

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The social networking giant said the investment will include $25 million in emergency grant funding for local news through the Facebook Journalism Project. Pixabay

Facebook has pledged to invest an additional $100 million to support journalists at a time when ad revenues are declining due to the economic impact of the new coronavirus.

The social networking giant said the investment will include $25 million in emergency grant funding for local news through the Facebook Journalism Project, and an extra $75 million in marketing to get money to publishers around the world at a time when their advertising revenue is declining.

“This investment is in addition to the support we’ve already pledged to the news industry in response to COVID-19: $1 million in grants for local news, $1 million in grants for fact-checking organisations, and a $1-million donation to the International Fact-Checking Network,” the company said in a statement on Monday.

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The news industry is working under extraordinary conditions to keep people informed during the COVID-19 pandemic. Local journalists are being hit especially hard, even as people turn to them for critical information to keep their friends, families and communities safe.

Facebook
Facebook has pledged to invest an additional $100 million to support journalists at a time when ad revenues are declining due to the economic impact of the new coronavirus. VOA

“Through the COVID-19 Community Network grant program, direct funding is helping journalists cover important stories when we all need them most,” said Campbell Brown, VP, Global News Partnerships.

“We’re building on this work and will direct a portion of these funds to publishers most in need in the hardest hit countries. The first round of these grants went to 50 local newsrooms in the US and Canada,” he added.

ALSO READ: Xiaomi’s Wuhan Headquarters Officially Resumes All Operations (Tech Report)

Facebook said the new commitment builds upon $300 million it has committed already to serving journalists around the world through diverse and inclusive news programmes and partnerships, including Report for America, the Pulitzer Center, the Community News Project and the Facebook Journalism Project’s Local News Accelerator training programme. (IANS)