The government can give an incentive of Rs 45 billion to foreign electronics companies for making laptops and tablets and export hubs in the country. This move of the government will challenge China's production base. It will also help in making India an export hub.
The Ministry of Technology has issued an advisory to the industry officials in this matter. In this, the incentive amount per company can exceed Rs 4,000 crore. India wants to boost tablets and production to cut down on imports of such products and make the country an export hub in the long term.
The amount of incentive will depend on the local manufacturer of the parts which can be as high as 6 percent on the finished products. However, there may be a change in this plan after discussions with the industry. Last year, India launched a Rs 73.5 billion program for local manufacturing and export of IT products such as laptops, tablets, and personal computers, but the effort failed to attract companies due to low incentives. The government is already attracting domestic companies to invest under PLI.
Seven billion rupees will have to be invested in five years
The decision is aimed at allowing companies such as Apple, Dell, HP, and Attack to scale up or start local production. However, Apple is already assembling the iPhone in India. She can now start manufacturing iPads locally. To get this incentive, companies will have to invest Rs 7 billion in the country in five years.
China's attraction decreased
The Government of India is accelerating efforts to attract global electronics companies through policy initiatives. China has lost its attractiveness due to geopolitical tensions and its disruptive COVID zero policy. In this episode, Apple has started making the iPhone 14 in India.
Companies like Dell and HP manufacture laptops on a very small scale in India. With incentive money, they can speed up construction. Chinese company Lenovo may find it difficult to join this plan.
Also Read: Meeting: Finance Minister holds meeting with heads of banks, reviews schemes for scheduled castes
The house of Dr. Umar Un Nabi, the terrorist who carried out the Red Fort blast, has been demolis
After the encounter of Anuj Pratap Singh, a one lakh prize of one lakh of the Sultanpur robbery c
'Iran cannot have nuclear weapons', G7 supports Israel; Iran held responsible for the attacks
The G-7, a group of the world's seven most powerful countries, has expressed its support for Isra
The ruling Mizo National Front (MNF), an ally of the North East Democratic Alliance (NEDA) in Miz
Thousands of devotees thronged to have darshan of Lord Jagannath, Balabhadra and Devi Subhadra on
The political crisis of Rajasthan is taking a new turn every day. After the rebellion of the Gehl
Voting for the last phase of Lok Sabha elections is going on in the country today. Meanwhile, Con
The results of the Lok Sabha elections have been announced across the country. Jailed Khalistani
Yami Gautam has made her acting debut with the TV serials 'Chand Ke Paar Chalo' and 'Yeh Pyar Na
Anand Kurmi, the fourth accused in the Raja Raghuvanshi murder case, was presented in court on Tu
