Govt unveils Rs50,000-cr scheme for electronics manufacturing

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.

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