New Delhi. The Government of India has planned to promote local manufacturing of electronic components components in the country. Under this scheme, the government is planning to provide incentives of up to $5 billion. Its main objective is to strengthen the industry and reduce dependence on imports from China. Two government officials have given information about this. India's electronics production has more than doubled in the last six years to reach $115 billion by 2024. The increase in mobile manufacturing by global companies like Apple and Samsung has a major contribution in this. India has now become the world's fourth largest smartphone supplier. Even the sector is being criticized for its heavy dependence on imports of components, especially from countries like China. Keeping this problem in mind, the Government of India has prepared this scheme. The new scheme will encourage the production of key components like printed circuit boards. This will increase domestic value addition and strengthen the local supply chain for electronics. This scheme can be launched in the next 2-3 months. In this, it is expected to provide incentives of up to 4-5 billion dollars to global or local companies. The Finance Ministry is expected to give its final approval to this scheme soon. According to NITI Aayog, India aims to increase electronics production to $500 billion by 2030, which includes manufacturing of components worth $150 billion. With the launch of this scheme, India is likely to achieve the global electronics production targets. The chief officer of Cellular and Electronics Association has also proved the ambition of this scheme and said that this scheme can lead India towards bigger goals in the electronics recession. For this, the government has made this scheme keeping in mind the main objective under which local manufacturing of electronic components will be promoted.
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