Officials and industry sources point to potential gains in fertilisers, rare earth minerals, electronics manufacturing, and foreign direct investment, even as India faces tariff pressures from the US.
The Rs 23,000-crore directly-funded ECM scheme was launched on May 1, aimed at addressing the demand-supply deficit in the electronic component segment
The government wants the manufacturers to remain committed to the domestic production promises made under the production-linked scheme
Foxconn could get as much as Rs 600 crore and Dixon Rs 100 crore if the government releases the funds, the people said, asking not to be identified as the matter isn’t public. The government is reviewing the two requests, the people said.
In May, the Cabinet approved a renewed PLI scheme for IT hardware worth Rs 17,000 crore with a six-year tenure
According to official sources, the Ministry of Electronics and IT has proposed "credit guarantee fund" (CGF) scheme and "interest subvention scheme" (ISS) to boost electronics manufacturing ecosystem in the country under new National Policy on Electronics in works.
According to a Communications Ministry official as part of the Digital India programme, 55,669 villages that do not have mobile coverage till now will be connected during 2014-18.
"Investment proposals worth Rs 1,10,000 crore have been received in the electronics sector in the last one year," Additional Secretary, Ministry of Communications and Information Technology, Ajay Kumar said.
Terry Gou, Chairman of Foxconn says the company will hire India based employees as he considers India to be the best IT producer/generator and will establish an exchange programme, for the same.
Govt has already received proposals worth Rs 21,000 cr for electronic manufacturing and Rs 6000 crore has already been approved, said telecom minister, Ravi Shankar Prasad.