Production in India

Economy of India

Main article: Economy of India

2020: India selects $6.7 billion for projects of production of electronics in the country

On June 2, 2020 the government of India announced selection of $6.65 billion a financial support to the enterprises which will open the production sites in the country or will expand capacities in this state at their existence. The announcement was made by the member of the Indian government Ravi Shankar Prasad responsible for the technology industry.

Originally the authorities are going to offer participation in the program to five global manufacturers of smartphones, but it is still unknown what. The corresponding announcement is going to be made within two months — i.e. until the end of July, 2020.

The amount of allocations will depend on production volumes. And participants of the program will have to invest in the Indian economy within several years in a row to get support.

In addition to it the authorities will select five local companies to which financial aid will also be selected. The speech also goes about producers of electronics.

The plan also includes initiatives of increase in production of electronic components and construction of production clusters which will be offered the foreign companies in general use. Clusters will represent hangars in which vendors will be able to place a production equipment.

Using the new program of the power of India expect to attract to the country the bigger number of contract producers of electronics as more and more companies look for production sites outside China where the pandemic of a coronavirus broke global supply chains.

Global players, such Samsung as well as Taiwan firms Foxconn and Wistron which make devices for Apple already increased the production capacities in India which also, as well as China, is attractive by cheap labor power.^[1]

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