Make in India is set to get a major boost with the introduction of a special fund. During the announcement of Budget 2020, the government announced new measures to strengthen local manufacturing of mobile devices and components. Now, the government is going a step further to promote local manufacturing of mobile devices. It is also focusing on local manufacture of electronic components and semiconductor packaging. The scheme is said to help job creation in the country.
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The Economic Times reported earlier that the government was working on a Rs 36,000 crore fund. The fund is meant to provide production-linked incentives to smartphone makers. The government has been looking for ways to bring its electronic manufacturing efforts in the same realm as that of Vietnam and China. With the trade war complicating China’s role in electronics manufacturing, India wants to be the clear alternative. This special fund is now seen as a way for the sector primarily focused on mobile phones and high value addition components.
Source: BGR.in
