Industry

Govt. invites applications for ₹50,000-cr. electronics-manufacture incentive schemes

Union IT and Telecom Minister Ravi Shankar Prasad

Union IT and Telecom Minister Ravi Shankar Prasad   | Photo Credit: PTI

IT and Telecom Minister Ravi Shankar Prasad said India was the second largest mobile manufacturer in the world, and was now working to lead the segment globally.

The government on June 2 invited applications for ₹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 the top 5 global mobile manufacturing companies and also promote five local companies that will be identified through a screening process.”

“There is a total incentive of ₹50,000 crore. There are 5-6 large companies that control 80% of 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 5 Indian companies to become national champions,” Mr. Prasad said.

The Minister said that India had become the second largest mobile manufacturer in the world, and was now working to lead the segment globally.

“A self-reliant robust India is not against any country,” Mr. Prasad said.

The government had notified three schemes on April 1 for the promotion of electronics. These were schemes for manufacturing of electronic components and semiconductors, modified electronics manufacturing clusters (EMC 2.0) scheme, and production-linked incentive scheme for large scale electronics manufacturing.

“The schemes have been opened today and companies can now submit their application,” Electronics and IT Secretary Ajay Prakash Sawhney said.

Niti Aayog CEO Amitabh Kant said global mobile majors will come to India in the next two to three years, and the country will soon become number one in the segment.

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Printable version | Jul 5, 2020 12:50:47 AM | https://www.thehindu.com/business/Industry/govt-invites-applications-for-50000-cr-electronics-manufacture-incentive-schemes/article31729643.ece

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