Ranjangaon, Oct 31 (KNN) An electronic manufacturing cluster (EMC) will be developed at Ranjangaon, Maharashtra, at a cost of Rs 500 crore, said Union Minister Rajeev Chandrasekhar on Monday.

Chandrasekhar during the briefing said that the cluster is targeted to attract an investment of over Rs 2,000 crore, with a potential to generate thousands of jobs in the coming years.

As per reports, the overall cost for development of the EMC is Rs 492.85 crore, out of which Rs 207.98 crore will be funded by the government of India and the rest of the funds will be provided by the Maharashtra Industrial Development Corporation (MIDC), State Industrial Agency of Government of Maharashtra.

With the development of EMC, Ranjangaon will join growing roster locations such as Tamil Nadu, Noida and Karnataka that are making an aggressive pitch to emerge as a electronics hub.

The Electronics and Information Technology minister also announced that a roadshow will be organised soon in Pune on semiconductor design schemes.

"Pune-based CDAC, very soon in Maharashtra under India Semiconductor Mission and Rs 1,000 crore future design scheme will organise a roadshow in Pune for startups. The Indian government will invest directly in semiconductor design startups," the Minister said.

The electronics manufacturing cluster is being developed with the aim to make Maharashtra an electronics hub.   (KNN Bureau)