From a Dow Jones Newswires report found at The Wall Street Journal comes news that the Indian government is "looking at a slew of initiatives" to attract $100 billion of investment by 2020 to boost local manufacturing of electronic components.
Speaking at a news conference to launch the draft National Policy on Electronics, India's Communications and Information Technology Minister Kapil Sibal said the draft proposal includes measures such as tax incentives, special funding, 200 manufacturing clusters and preferential access for locally-made products among the initiatives to boost manufacturing. The policy will be finalized by December this year, Sibal said. He added that the new initiatives are expected to create 28 million jobs.
Local demand for electronics hardware in India is reportedly expected to reach $400 billion by 2020, up from $45 billion in 2009. Explaining the precedent for the investment initiative, the Dow Jones report notes that, "unless India develops the local manufacturing base for such products by then, [the country] will have to rely on importing most of it."
Link: India to Attract $100 Billion Investment in Electronics Manufacturing (online.wsj.com)
