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 government is considering giving relaxation of certain rules for startups starting their busi
Today's Weather Delhi NCR Rain News: There is news of rain in many areas of Delhi since this morn
Recently, cricketer Virat Kohli claimed that the post got liked automatically on Instagram. Now a
Famous Telugu cinema actor Fish Venkat, aka Venkat Raja, died on July 18. Fish Venkat was sufferi
Bhai Dooj 2023: The festival of Bhai Dooj, a symbol of brother-sister affection and love, is on 1
Delhi: The meeting between LG and CM Kejriwal lasted for about an hour, what issues were discussed?
The tussle between Delhi's Arvind Kejriwal government and Lieutenant Governor Vinay Saxena contin
Indian cricket team captain and opener batsman Rohit Sharma scored 53 runs in his second group ma
South superstar Rajinikanth has been given a golden visa by the Culture and Tourism Department of
From July 1, i.e. today, a major change in the legal system in the country has come into effect.
Prime Minister Narendra Modi, who is on a visit to Croatia, has taken traditional gifts from Odis
