Monday, December 10, 2012: The Department of Electronics and IT (DeitY) is looking to approach large Indian companies to acquire foreign majors like Research in Motion, Nokia and Ericsson. The move falls in line with the department’s vision to promote domestic electronics manufacturing.
DeitY has been in touch with Kapil Sibal, Minister of Communications and IT, and the government is hoping that Indian companies would take an interest in buying out major firms, to take full advantage of the recently announced policies. The said schemes include the setting up of Electronics Manufacturing Clusters (EMCs) and promoting Electronic Systems Design and Manufacturing (ESDM), which were approved back in July, and to provide a special incentive package to promote investments in the sector.
With an effort to reach out to major international trade organisations and industry leaders of ESDM companies, a delegation led by Kapil Sibal will visit countries such as Germany, Japan, Korea, the US, Israel, Sweden and Belgium, starting early next year. DeitY will talk to companies that currently do not have manufacturing activities in India and encourage them to do so.
Electronics Bazaar, South Asia’s No.1 Electronics B2B magazine
