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
Electoral Bonds Case: A Constitution bench of five judges of the Supreme Court will hear a petiti
IAEA: United Nations agency claims – Iran is very close to making nuclear weapons
UN's nuclear watchdog International Atomic Energy Agency (IAEA) in its latest report has claimed
Today is the 395th birth anniversary of Chhatrapati Shivaji Maharaj, the founder of the Maratha E
Another case like the Shraddha murder has come to light in Delhi's Pandav Nagar. A woman killed h
The third match of the five-match Test series between India and England is going on at the Niranj
ISRO INSAT-3DS Mission: The countdown for the launch of the meteorological satellite INSAT-3DS ha
Good news for railway employees, 78 days bonus approved, oil companies also compensated
The Union Cabinet has approved the payment of a Productivity Linked Bonus equivalent to 78 days t
After the death of Samajwadi Party founder Mulayam Singh Yadav, the party's national president Ak
BJP-Congress Clashed: During the election battle in Karnataka, BJP and Congress leaders have star
Arvind Kejriwal has written a letter to the Chief Election Commissioner regarding the attack on A
