India’s electronic component push receives twice the anticipated interest

New Delhi: India’s scheme offering incentives to create an electronics component supply chain has generated strong interest as the Centre received 249 applications, proposing investments totalling $13 billion ( ₹1.15 trillion), according to Union IT minister Ashwini Vaishnaw.

The total investments proposed by conglomerates and small enterprises is nearly double the $6.7 billion ( ₹59,350 crore) the ministry of electronics & IT (Meity) had expected, said Vaishnaw, without disclosing the names of the companies, citing that applications are under…