Union Minister Rajeev Chandrasekhar on Monday announced that an Electronics Manufacturing Cluster will be developed in Ranjangaon, Maharashtra, at a cost of Rs 500 crore.

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The Electronics Manufacturing Cluster (EMC) is targeted to attract an investment of over Rs 2,000 crore, with a potential to generate thousands of jobs in the coming years.

"To make Maharashtra into an electronics hub, we have approved an Electronics Manufacturing Cluster project in Ranjangaon, Pune. The total investment of the government will be about Rs 500 crore," Minister of State for Electronics and Information Technology Chandrasekhar said at a briefing.

With this, Ranjangaon (Maharashtra) joins the growing roster of locations such as Tamil Nadu, Noida and Karnataka that are making an aggressive pitch to emerge as a vibrant electronics hub.

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 balance contribution of Rs 284.87 crore will be infused by the Maharashtra Industrial Development Corporation (MIDC), State Industrial Agency of Government of Maharashtra, according to a background note.

In addition, 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.