On Wednesday, India doubled its incentive scheme to $2 billion to encourage laptop and tablet production.
The program, which covers personal computers and servers, is expected to help global and Indian companies like Dell (DELL.N), Wistron Corp (3231. TW), Dixon (DIXO.NS), and Foxconn (2317. TW).
The plan depends on India’s goal of $300 billion in electronics output by 2026.
“It will create additional incentives for companies to set up their manufacturing base in India,” India’s deputy IT minister Rajeev Chandrasekhar said.
Manufacturers who sell locally created goods above an annual target will receive cash-backs under the amended six-year plan.
The government estimated these enterprises would produce approximately $41 billion in IT products and over 75,000 jobs. In addition, February 2021 saw the $1 billion incentive package.
MAIT, representing Apple, Dell, and Samsung, applauded the measure and said it would meet domestic IT product demand and enhance exports.
“We believe this scheme will help IT hardware sector achieve the same level of success India had with smartphone manufacturing,” said MAIT Director General Ali Akhtar Jafri.
