Electronic Manufacturing units to get financial assistance of Rs 30 billion to set up more of manufacturing units in the country. The prime focus as of now is to create apps for mobile phones, tablets and other electronic hardware, as a package of Rs 10 billion is in offing for them, says ET report
“About Rs 20 billion has already been approved. While the rest has been put forth for approval by the Cabinet for startups interested in IP creation, as an electronic development fund,”said J Satyanarayana, IT secretary, department of electronics and IT.
The fund will also be used for providing incentives to the tune of 20-25 per cent as subsidy for capital expenditure incurred. Firms such as Nokia, Samsung, LG, Dell, Lenovo, who are already manufacturing in India, will also benefit from the new fund.
Government has also drafted a marketing plan to encourage ‘Made in India’ electronics in the global market.
“We will visit global trade fairs and exhibitions and invite component and electronic makers in Korea, Taiwan, China, Japan, Germany and US, to locate units in India,” Satyanarayana added.
A delegation of Ministry officials is visiting a trade fair in Germany next month to scout for potential candidates. The Union Cabinet last month approved Rs 10 billion, as financial support for the development of electronic manufacturing clusters.