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
Five years have passed since the clash between the armies of India and China in the Galwan Valley
Amid the two-week-long military conflict between Israel and Iran, India has launched Operation Si
The monsoon season may have gone, but even now the rainy season continues in many states. Recentl
The Government of Sri Lanka has also approved the Indian Rupee as an international currency. Now
On the second day of his Gujarat visit, Prime Minister Narendra Modi was honored in Ahmedabad. On
Taking advantage of the fog, Pakistani smugglers are continuously sending weapons and drugs to th
External Affairs Minister S Jaishankar has presented Covid, Conflict, and Climate (Corona, Confli
Indraprastha Gas Limited (IGL), the company supplying natural gas, has provided a major assurance
As October is about to pass, changes are also being seen in the weather. After snowfall in the hi
The Supreme Court has once again made strict remarks on illegal conversions. Describing those who
