Which companies received approval for India's electronics manufacturing scheme?

Samsung Electronics, Tata Electronics, and Foxconn are among the companies whose projects were approved.

How much has India invested in boosting electronics manufacturing?

India has approved projects worth 418.63 billion rupees ($4.64 billion) under a new incentive scheme.

What is the goal of India's new electronics manufacturing projects?

The goal is to boost domestic production of electronic components, reduce import dependence, and strengthen supply chains.

Home / Business and Economy / India Greenlights $4.6B for Electronics Manufacturing Boost

India Greenlights $4.6B for Electronics Manufacturing Boost

2 Jan

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Summary

India approved projects worth $4.64 billion to boost electronics manufacturing.
Samsung, Tata Electronics, and Foxconn received approvals for their projects.
The initiative aims to create 34,000 jobs across eight Indian states.

India Greenlights $4.6B for Electronics Manufacturing Boost

India has approved a substantial package of projects, valued at 418.63 billion rupees ($4.64 billion), aimed at significantly boosting domestic manufacturing of electronic components. This initiative falls under the Electronics Component Manufacturing Scheme, which has an allocated outlay of 229.19 billion rupees. The approved projects include the production of crucial items such as mobile phone enclosures and camera sub-assemblies.

Global technology giants, including Samsung Electronics, Tata Electronics, and Foxconn, are among the leading companies that have had their manufacturing projects greenlit for government subsidies. This move is part of India's broader strategy to enhance its electronics manufacturing capabilities, attract foreign and domestic investment, and reduce dependence on imports while strengthening supply chains across various sectors.