The prime objective of the scheme is to make manufacturing in India globally competitive by removing sectoral disabilities.
In April, the index had slipped into contraction mode, after remaining in the growth territory for 32 consecutive months.
The tech sector alone accounts for about 10% of gold’s global consumption.
Making the announcement in the Budget speech, she said, 'There is a cost advantage for electronics manufacturing in India'.
The cluster in Kerala will come up on either side of the Kochi-Salem national highway and is expected to provide 10,000 jobs.
The IMC will be spread on both sides of the national highway over a 100km stretch. Envisioned on the lines of special economic zones, the project will offer more benefits to entrepreneurs.
Beyond fulfilling local demand, companies such as Apple could also use India as an export hub to soften the impact of a bruising trade war between the United States and China.
There are over 60 firing ranges belonging to defence forces spread across the country.
With this India will continue to retain the position of being the fastest growing emerging economy. And by 2021, its growth rate is projected to be 1.5 per cent more than China's 6 per cent.
India will play an increasingly important role as one of the Asia-Pacific region's major economic growth engines, helping to drive Asian regional trade and investment flows.