Cabinet Approves Plan to Boost Electronics Manufacturing Industry

The Cabinet has approved a $6.4bn plan to boost the electronics manufacturing industry in India which has become the world’s second-biggest mobile phone manufacturer. The Government will reportedly provide companies a production-linked incentive of 4-6% on incremental sales of goods made locally for five years.

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Under the scheme, electronic manufacturing companies will be given an incentive of 4% to 6% on incremental sales, over base year, of goods manufactured in India to eligible companies over a period of next 5 years. The scheme also aims for the promotion of manufacturing of electronics components and semiconductors with a budget outlay of Rs.3,285 crore spread over a period of 8 years.