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
Russia's economy is in constant hiccups due to the Ukraine war. The experts of Russia believe tha
Former head of Kolkata's RG Kar Hospital, Sandeep Ghosh, has been accused of selling dead bodies
World Ayurveda Congress 2022: WHO prepares Allopathy-Ayurveda module, $30 billion global market
Soon two of the world's biggest medical clinics will be seen simultaneously treating patients on
Saumy Pandey Wickets: The Indian team's excellent performance continues in the Under-19 World Cup
Earthquake tremors are being felt frequently in India. At the same time, once again a strong eart
Amidst the Ukraine-Russia war, Chinese President Jinping made a big announcement about the war
Worldwide, China is notorious for its expansionist policy. In Ladakh in India, where it has been
More than 7.5 crore people took a dip in the confluence on Mauni Amavasya on Wednesday in the ong
One month was completed in the Israel-Hamas war. Military action is being taken continuously by I
Railways are building the Vande Metro train which will replace the Metro train designed in the 19
Even before the start of the 16th season of the Indian Premier League (IPL 2023), the Delhi Capit
