India’s Electronics Industry: Incentives offered by Central and State-level Schemes
18 Sep 2020Professional Services
The electronics sector in India witnessed a meteoric rise since the Government introduced the Make in India and the Digital India initiatives. Over the last five years, the domestic production of electronics has outweighed imports, and government impetus is the major driving force behind this change.
In April 2020, the government announced three additional schemes which were notified by the Ministry of Electronics and IT (MeitY) allocating a sum of INR 479.9 billion (~ USD 6.39 billion) as incentives under the schemes. These incentives are expected to bolster the local production of electronics and promote anchor companies in the major electronics clusters in India.