Govt may set up electronics development fund

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The Indian Government is working on an electronics development fund to address the growing demand and supply gap in the electronics industry. “The rapid growth in the demand for electronics, clubbed with the slow rate of increase in domestic production, has resulted in an increasing demand-supply gap in the industry,” Sachin Pilot, the minister of state for communications and IT, said in a written reply to the Lok Sabha. The electronics development fund will be aimed at promoting innovation, R&D, Indian intellectual property and development of Indian microprocessor.

“The rapid growth in the demand for electronics, clubbed with the slow rate of increase in domestic production, has resulted in an increasing demand-supply gap in the industry,” the minister said in a written reply to the Lok Sabha earlier this week.

According to the latest data present with the department of telecommunications, while the demand for electronics stood at $45 billion in 2008-09, goods worth $20 billion only were produced in India.

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