Govt unveils Rs 50,000-cr scheme for electronics manufacturing

Woos global mobile device makers to set up shop in India

Govt unveils Rs 50,000-cr scheme for electronics manufacturing

Union IT & Telecom Minister Ravi Shankar Prasad along with NITI Aayog CEO Amitabh Kant at the launch of ‘Electronics Manufacturing Schemes’ in New Delhi on Tuesday. PTI

New Delhi, June 2

The government on Tuesday started inviting applications for Rs 50,000 crore incentive schemes to attract global mobile device makers and boost local companies for electronics manufacturing. 

Eyes top five firms

  • Initially, the government aims to attract top five global mobile manufacturers and promote five local companies
  • There are 5-6 large companies that control 80% of the global mobile market
  • The government is trying to create employment for 15 to 20 lakh people in the coming few years in the electronics manufacturing sector

IT and Telecom Minister Ravi Shankar Prasad said India will initially aim to attract top five global mobile manufacturing companies and also promote five local firms that will be identified through a screening process.

“There is a total incentive of Rs 50,000 crore. There are 5-6 large companies that control 80% of the global mobile market. Initially, we will pick up five global champions who under the PLI scheme shall be permitted to participate.

“Global and the local will together make India a good manufacturing talented country, supporting the global chain. We will also promote five Indian companies to become national champions,” Prasad said.

The minister said India has become the second largest mobile manufacturing country in the world, and is now working to lead the segment globally.

“Self-reliant India is not an India of isolation or not an inward-looking country. It is an India that enhances its capacity and develops a strong ecosystem as well as a robust supply chain linked with the global economy. A self-reliant robust India is not against any country,” Prasad said. — PTI

Top Stories

India wants end to border tension with China but will not cede an inch of land: Rajnath

India wants end to border tension with China but will not cede an inch of land: Rajnath

Singh's 'Shastra Puja' at the strategically important milita...

COVID-19: Recovery rate touches 90 pc; only 8.5 pc of total caseload active in India

COVID-19: Recovery rate touches 90 pc; only 8.5 pc of total caseload active in India

Less than 1,000 deaths have been continuously reported for t...

Bihar poll: Sheohar candidate, supporter shot dead; attacker lynched

Bihar poll: Sheohar candidate, supporter shot dead; attacker lynched

Shri Narayan Singh, 45, was killed while campaigning at Hath...

Kapil Dev discharged from hospital; to resume daily activity soon

Kapil Dev discharged from hospital; to resume daily activity soon

The 61-year-old complained of chest pain on Thursday followi...

Turbaned Sikh among 8 Indo-Canadian winners in British Columbia assembly polls

Turbaned Sikh among 8 Indo-Canadian winners in British Columbia assembly polls

The NDP, led by Jagmeet Singh, increased its 41-seat minorit...

Cities

View All