India's Rs480B incentives to boost electronics exports

India's Rs480B incentives to boost electronics exports
India's Rs480B incentives to boost electronics exports

Thank you for reading the news about India's Rs480B incentives to boost electronics exports and now with the details

Aden - Yasmine El Tohamy - India's allocation of Rs480 billion for the electronics industry will boost the country's exports, said Kamal Vachani, regional director of the Electronics and Computer Software Export Promotion Council (ESC), India's apex trade promotion organisation mandated to promote India's electronics, telecom and IT exports to global markets.

Vachani said: "The UAE is the largest importer of Indian electronics goods within the Middle East. As the country hosts the largest Indian diaspora, 'Made in India' electronics good are quite popular in the UAE. It is expected that more Indian companies will set-up base in the UAE for electronics goods manufacturing."

The Union Cabinet of India, chaired by Prime Minister Narendra Modi, on Saturday approved three key schemes to incentivise electronics and components manufacturing exports and production in the country.

The three schemes, with a total outlay of Rs480.42 billion, are expected to lead to investment to the tune of Rs20 trillion and employment opportunities for 2.5 million people over the next five to six years, Union Minister for Electronics and IT Ravi Shankar Prasad said during a briefing in New Delhi.

Vachani said the Rs480 billion allocation for five years under the Production Linked Incentive scheme will provide significant support to the electronics production in the country and help the industry to compete with China and Vietnam in manufacturing and increase the exports volume globally.

Exports of electronics goods in India increased by Rs83.81 billion in February 2020 from Rs72.90 billion in January 2020.

- [email protected]

These were the details of the news India's Rs480B incentives to boost electronics exports for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Khaleej Times and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Covid-19: Facebook feature lets people reach out for help in pandemic
NEXT This robot can remotely detect Covid-19 patients