<p>New Delhi: India will offer up to $5 billion in incentives to local electronics companies to make components for gadgets from mobiles to laptops, two government officials said, in a bid to bolster the burgeoning industry and wean off supplies from China.</p>.<p>India's electronic production has more than doubled in the last six years to $115 billion in 2024, led by growth in mobile manufacturing by global firms such as Apple and Samsung . It is now the world's fourth-largest smart phone supplier.</p>.<p>But the sector faces criticism for its heavy reliance on imported components from countries such as China.</p>.All you need to know about Gautam Adani's US bribery indictment.<p>"The new scheme will incentivise production of key components like printed circuit boards that will improve domestic value addition and deepen local supply chains for a range of electronics," one of the two officials said.</p>.<p>The incentives are likely to be offered under a new scheme expected to be launched in two to three months, said the officials, who asked not to be identified as details of the scheme are not yet public.</p>.<p>The plan, designed by the India's electronics ministry, has identified components eligible for incentives and is in its final stages. The finance ministry is likely to approve the moves.</p>.<p>India's electronics ministry and finance ministry did not immediately respond to requests for comment.</p>.<p>India is aiming to expand its electronics manufacturing to $500 billion by the fiscal year 2030, including production of components worth $150 billion, as per the government's top policy think tank Niti Aayog.</p>.<p>India imported electronics, telecoms gear, and electrical products worth $89.8 billion in the fiscal year 2024, with more than half sourced from China and Hong Kong, according to an analysis by private think tank GTRI.</p>.<p>"This scheme is coming at a time when it is critical to promote component manufacturing that will help us aim for a global-scale of electronics production," Pankaj Mohindroo, head of India's Cellular and Electronics Association, said.</p>.<p><em>($1 = 84.4880 Indian rupees)</em> </p>
<p>New Delhi: India will offer up to $5 billion in incentives to local electronics companies to make components for gadgets from mobiles to laptops, two government officials said, in a bid to bolster the burgeoning industry and wean off supplies from China.</p>.<p>India's electronic production has more than doubled in the last six years to $115 billion in 2024, led by growth in mobile manufacturing by global firms such as Apple and Samsung . It is now the world's fourth-largest smart phone supplier.</p>.<p>But the sector faces criticism for its heavy reliance on imported components from countries such as China.</p>.All you need to know about Gautam Adani's US bribery indictment.<p>"The new scheme will incentivise production of key components like printed circuit boards that will improve domestic value addition and deepen local supply chains for a range of electronics," one of the two officials said.</p>.<p>The incentives are likely to be offered under a new scheme expected to be launched in two to three months, said the officials, who asked not to be identified as details of the scheme are not yet public.</p>.<p>The plan, designed by the India's electronics ministry, has identified components eligible for incentives and is in its final stages. The finance ministry is likely to approve the moves.</p>.<p>India's electronics ministry and finance ministry did not immediately respond to requests for comment.</p>.<p>India is aiming to expand its electronics manufacturing to $500 billion by the fiscal year 2030, including production of components worth $150 billion, as per the government's top policy think tank Niti Aayog.</p>.<p>India imported electronics, telecoms gear, and electrical products worth $89.8 billion in the fiscal year 2024, with more than half sourced from China and Hong Kong, according to an analysis by private think tank GTRI.</p>.<p>"This scheme is coming at a time when it is critical to promote component manufacturing that will help us aim for a global-scale of electronics production," Pankaj Mohindroo, head of India's Cellular and Electronics Association, said.</p>.<p><em>($1 = 84.4880 Indian rupees)</em> </p>