The Indian government is hoping companies that are part of its new $1 billion incentive plan will produce up to 1.61 trillion rupees ($21.59 billion) of IT hardware in the country by 2025.
The $1 billion incentive plan, which aims to boost exports of laptops, tablets, servers, and personal computers, will be supported by Dell, Wistron’s ICT, Flextronics, and Foxconn, as well as ten domestic companies including smartphone and laptop manufacturer Lava and LED TV panel manufacturer Dixon.
Through the plan, manufacturers will receive an incentive of 1% to 4% cashback over four years on additional sales of goods manufactured inside the country. The scheme is expected to generate 36,000 new jobs as a result.
Shri Ravi Shankar Prasad, union minister for Electronics & IT, Communications, Law and Justice, said that the scheme has been a huge success in terms of the applications received from global as well as domestic manufacturing companies.
“We are optimistic and looking forward to building a strong ecosystem across the value chain and integrating with the global value chains, thereby strengthening [the] electronics manufacturing ecosystem in the country,” he added.
This initiative is aiming to turn India into a competitive destination for electronics manufacturing and give a boost to prime minister Modi’s call for 'AtmaNirbhar Bharat', a Hindi phrase for a self-reliant India.
In May, India was reportedly delaying approvals for Wi-Fi modules from China as it aimed to encourage more products to be manufactured domestically. This caused companies like Dell and HP to delay product launches in the region as a government department had withheld approval for the modules since November.
Indian telco Reliance Jio and Google Cloud partnered last week to provide 5G technology for enterprise customers and consumers across the country. Reliance Jio is also set to launch a new smartphone with Google in September, the JioPhone Next, which will be based on an optimised OS that is leveraged from the Andriod and Play Store.
-
RSAC Conference 2025: The front line of cyber innovationITPro Podcast Ransomware, quantum computing, and an unsurprising focus on AI were highlights of this year's event
-
Anthropic CEO Dario Amodei thinks we're burying our heads in the sand on AI job lossesNews With AI set to hit entry-level jobs especially, some industry execs say clear warning signs are being ignored
-
Boomi snaps up former MuleSoft executive as APJ channel leadNews Global software veteran Jim Fisher will work to expand the company’s channel operations across the region
-
What the US-China chip war means for the tech industryIn-depth With China and the West at loggerheads over semiconductors, how will this conflict reshape the tech supply chain?
-
Why Microsoft Teams has only just launched in ChinaNews The tech giant has officially launched Teams via its local partner in China, after it was launched globally in 2017
-
UK startup's Equinix deal marks step towards broad quantum computing accessNews Businesses around the world will be able to use its quantum computing as a service platform through Equinix
-
MI5 to establish new security agency to counter Chinese hacking, espionageNews The new organisation has been compared to GCHQ’s NCSC, and will provide companies advice on how to deal with Chinese companies or carry out business in China
-
UK set to appoint second-ever tech envoy to Indo-Pacific regionNews The role will focus on India after Joe White was made the first technology envoy, a role focused on the US, in 2020
-
Wipro faces criticism after cutting graduate salaries by nearly 50%News Graduates were given days to decide whether they would accept greatly reduced pay offers, prompting union action
-
Freshworks appoints Sandie Overtveld as new SVP of APJ and MEANews The digital transformation veteran brings years of regional expertise to lead Freshworks’ growth strategy
