The government recognizes the 22,919 crore project now in India Electronics
Electronic Production: Prime Minister Narendra Modi -led Cabinet meeting has donated Rs 22,919 crore to the Electronics Component Production Program to transform the country into the Electronics Distribution chain. Under this scheme, it is planned to attract an investment of Rs 59,350 crore, produce Rs 4,56,500 crore, direct employment and many indirect jobs for 91,600 people, which can improve the country’s electronic production rapidly.
What is the purpose of the project
The project is aimed at attracting large investment in the Electronics Component Environmental System, Domestic Price Commissions (DAVs) and Indian companies to create a strong component environmental system by integrating global value chains (GVC). According to the Cabinet, the duration of the project is related to the employment target for six years and part of the incentive.
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Cagr grown electronic
In this scheme, the government will provide a variety of concessions to Indian manufacturers to the components of different types of sub -state governments so that they can achieve technical skills and quantities. The domestic production of electronic goods has increased from Rs 1.90 lakh crore in the financial year 2014-15 to Rs.
Isa welcomed
The export of electronic goods is Rs. 0.38 lakh crore 2023-24 in the financial year 2014-15 up to Rs 2.41 lakh crore in the financial year. The government’s approval of the Electronic Components and Deputy Government Production Production and Link incentive (PLI) project was welcomed by India on Friday. The project has long been requested by the industry. According to the IESA report, the production and exports of India’s electronic market are likely to increase to $ 400 billion by 2030. This will strengthen the country’s position as the world’s electronics export.
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