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 question remains as to who will be the CM face in Mahayuti and Maha Vikas Aghadi in Maharasht
The Shraddha murder case in Delhi has created a sensation. Now political reactions are also comin
The action-packed season of Tom Clancy's Jack Ryan returns. The fourth and final season of this t
After breaking the pride of Australia in Perth, the Indian team is ready to take revenge for the
The Online Gaming Promotion and Regulation Bill, 2025, has now become a law after the President's
The West Bengal Junior Doctors Front on Wednesday alleged that the state government has withdrawn
The Supreme Court on Thursday refused to hear the petition immediately, which challenged the noti
Central Board of Secondary Education (CBSE) has declared the result of class 12th. 87.98 percent
A fire broke out at the coaching center in the Mukherjee Nagar area of Delhi. 11 vehicles of Damk
The team of Sunrisers Hyderabad has won its second consecutive win after a bad start in the 16th