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June 2, 2020 06:05 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/Zo2Z_THEfBg/india-plans-66-billion-in-incentives-to-woo-smartphone-makers
India Plans $6.6 Billion in Incentives To Woo Smartphone Makers
India is offering financial incentives and plug-and-play facilities with an outlay of about 500 billion rupees ($6.6 billion) to attract investments from global companies in the manufacture of mobile phones and related components. From a report: The government will initially target five global suppliers and extend a financial incentive of as much as 6% on incremental sales of goods made in the country for a period of five years, according to the ministry for electronics and information technology. An incentive of 25% on capital expenditure will be provided for production of electronic components, semiconductors and other parts. Electronic manufacturing clusters with ready-to-use facilities will be offered. The move has the potential to make India as global hub for mobile phone manufacturing and make it the largest exported item out of India while generate half a million jobs, Ravi Shankar Prasad, minister for electronics and information technology, said at a press conference in New Delhi Tuesday.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/Zo2Z_THEfBg/india-plans-66-billion-in-incentives-to-woo-smartphone-makers
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