India will provide $5 billion in incentives for electrical gadgets to reduce supply from China
The government of India has taken a unique initiative to reduce China's supply of electronic gadgets. The central government will give incentives up to five billion dollars to companies to manufacture gadgets from mobile to laptops to promote the industry.
India will give incentives of up to five billion dollars to companies who manufacture gadgets from mobile to laptops. The reason behind this unique initiative is to promote the industry and reduce supplies from China. India's electronic production has more than doubled in the last six years to $ 115 billion in 2024 due to the increase in mobile manufacturing by global companies like Apple and Samsung. India is now the fourth largest smartphone supplier in the world.
However, the sector is facing problems due to dependence on imported components from countries like China. Government officials said the new scheme will encourage the production of key components like circuit boards. This will improve domestic value addition. Agency
The incentive scheme will be launched in two to three months. However, its full details have not been released yet. The Ministry of Electronics created it. Eligible companies have been identified. The scheme is in the final stage. The Finance Ministry will soon approve the final investment.
If we talk about Niti Aayog, according to the commission, India has set a target of taking electronics manufacturing to $ 500 billion by the financial year 2030.
