Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen MissBook for the clue delivery! CTOnews.com, May 17 (Reuters)-the Indian government announced on the 17th that in order to attract large investors to produce IT hardware products such as laptops and tablets in India, it will expand its existing incentive program to increase the size of the fund from US $1 billion to US $2 billion (CTOnews.com Note: currently about 13.96 billion yuan). The program, which also covers personal computers and servers, is expected to benefit international and domestic companies such as Dell, Whirlon, Dixon and Foxconn.

The plan is a key step in India's ambition to become a supply chain powerhouse in the global electronics industry, which aims to produce $300 billion a year by 2026. Indian Deputy IT Minister Rajiv Chandrashekhar said: "this will provide companies with additional incentives to establish their own manufacturing base in India."

According to the revised plan, the plan will last for six years, and the government will provide cash returns to local manufacturers if their sales exceed their annual targets. The Indian government estimates that these companies will produce nearly $41 billion in IT products and create more than 75000 jobs over the next six years.

MAIT, an industry group representing manufacturers such as Apple, Dell and Samsung, welcomed the $1 billion incentive package originally announced in February 2021, saying it would help meet domestic demand for IT products while boosting exports. "We believe this program will help the IT hardware industry achieve the same level of success as smartphone manufacturing." MAIT Director General Ali Akhtar Jafri said.

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