2025-03-28 05:36:50 pm | Source: Reuters
Indian cabinet approves $2.7 billion plan to boost electronic components manufacturing
-The Indian cabinet has approved a plan worth 229.19 billion rupees ($2.68 billion) to boost electronics components manufacturing, Information Minister Ashwini Vaishnaw said on Friday.
The plan, expected to spur production of electrical components that will feed into sectors such as telecoms, automobiles and power, will aim to add nearly 92,000 direct jobs, a government statement said.
New Delhi plans to offer employment-linked incentives for electronics manufacturing, Vaishnaw told reporters at the briefing.
Between 2014/15 and 2023/24, electronics production has jumped five-fold in India, while exports have grown six-fold, government data showed.
($1 = 85.4570 Indian rupees)
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