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India Unveils $6.5 Billion Smartphone Manufacturing Incentives and Expands Semiconductor Push
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India Unveils $6.5 Billion Smartphone Manufacturing Incentives and Expands Semiconductor Push
India has unveiled billions of dollars in new incentives for smartphone manufacturing and an expanded semiconductor push.
- India unveiled the ₹625 billion ($6.5 billion) Mobile Phone Manufacturing Scheme, offering incentives of 2.25% to 5% on eligible sales over five years.
- New Delhi committed an additional ₹1.28 trillion ($13.3 billion) to bolster domestic semiconductor manufacturing, expanding a prior $10 billion program.
- Indian IT Minister Ashwini Vaishnaw said the government plans to foster homegrown mobile-phone brands with an extra 3% incentive for product design and research.
- Pankaj Mohindroo, chairman of the India Cellular and Electronics Association, said India should aim for 35% to 40% of global mobile-phone production.
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