The Indian government is now coming up with a new scheme, in which companies will be provided assistance up to $5 billion. The objective of this scheme is to make more electronic goods in India, so that we reduce the need to import goods from China.
Electronics production in India has increased significantly in the last few years. Mobile manufacturing companies like Apple and Samsung have helped a lot in this. Now the government wants this industry to grow even further.
domestic production will increase
Many electronic components in India still come from China, such as printed circuit boards (PCBs). Now the government wants these things to be made in India only. For this, help will be given to companies so that the manufacturing of these things increases in India. This will increase work in India and the need to import goods from China will reduce.
Dependence on China will reduce
India’s electronics industry still imports many things from China. The aim of the government through this scheme is that India should produce its own essential goods. This will reduce dependence on China and India will benefit more. Apart from this, the price of products made in India may also reduce.
Big goal by 2030
The Indian government dreams that India’s electronics production can reach $500 billion by 2030. Under this, there is a plan to increase the production of components by 150 billion dollars. With this, India can become a big name in the world in terms of electronics and new employment opportunities can also open up here. This scheme will help in making India self-reliant, which will strengthen the country’s economy and open new avenues of development.