The Indian government has approved investment of 30 billion Indian rupees ($360.4 million) in the IT hardware sector under its flagship manufacturing incentive scheme.
National
The Government of India has approved investment of ₹30 billion Indian rupees ($360.4 million) in the IT hardware sector under its flagship manufacturing incentive scheme. Information Technology Minister Ashwini Vaishnav said that applications of 27 companies have been approved and a total of 40 applications were submitted. Dell, Hewlett Packard, Foxconn unit Rising Star and Flextronics are among those approved, according to a government release. In May the government expanded its incentive scheme to attract larger investment in IT hardware manufacturing. The amount was doubled to $2 billion with the aim of promoting domestic production of laptops and tablets. The country is offering cash-back to manufacturers on sales of locally manufactured goods in excess of the annual target. India has ambitions to become a powerhouse in the global electronics supply chain, with the country t
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