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
This actress Salman Khan will rock Bigg Boss 19, information also came on the teaser shoot.
Salman Khan's famous reality show Bigg Boss is once again ready to make a splash among the audien
Ukraine: Ukrainian President Zelensky sacked military general, reason not disclosed
Ukrainian President Volodymyr Zelensky on Sunday sacked Major General Eduard Mikhailovich Moskalo
Weekend Ka Vaar, the sixth week, is going to be very challenging for the housemates. The confront
Weather Update Today: Heavy rain alert in these states including UP, schools closed, trains affected
Monsoon has left many states of the country, but due to Cyclone Noru, many parts of the country h
Tripti Dimri, who made people crazy with the movie 'Animal', is touching new heights. People can'
Five-time winning team Mumbai Indians will be captained by Hardik Pandya for IPL 2024. The franch
The world's tallest Shiva statue has been completed. Its launch ceremony is going to start on Sat
Two all-rounders of Kolkata Knight Riders are making a splash in IPL 2024. Sunil Narine and Andre
Union Minority Affairs Minister Kiren Rijiju signed the bilateral Hajj Agreement for 2026 in Jedd
India has successfully tested the indigenously developed anti-drone state-of-the-art hypersonic m
