Rising Bharat Summit: Ashwini Vaishnaw signals openness to global JVs as govt notifies component PLI

Minister for Electronics and Information Technology Ashwini Vaishnaw at the Rising Bharat Summit on April 9

As Indian electronics firms step up efforts to collaborate with global supply chain players, Union Minister Ashwini Vaishnaw on April 9 indicated that companies are free to explore partnerships in India, noting that joint ventures often help accelerate the learning curve.

His comments come as the government, on April 8, notified a nearly Rs 25,000 crore production-linked incentive scheme for component and sub-component manufacturing.

"Any country or company that wants to come and work in India has the full freedom to do so. Companies generally prefer joint ventures more when they want to go up the learning curve at a faster pace," Vaishnaw said at the News18 Rising Bharat event.

The Minister for Electronics and Information Technology (MeitY) was responding to a question on whether Chinese mobile majors such as will be eligible for the PLI, and on reports that the government was encouraging such companies to enter into JVs with Indian companies.

Earlier, Moneycontrol reported how Indian electronics manufacturing services (EMS) firms are accelerating talks with global supply chain players—primarily Chinese companies—to establish joint ventures and strategic partnerships in the electronics component sector.

This push came as the government was finalising the Rs 25,000 crore incentive scheme to bolster component manufacturing.

India's top electronics manufacturers—Dixon, Optiemus, Zetwerk, and Bhagwati—are in discussions with global component makers to form joint ventures and strategic partnerships aimed at introducing cutting-edge technology to the country. Each company is set to invest between Rs 800 crore and Rs 1,000 crore to expand local production capabilities.

Other Indian companies, including Amber Enterprises India, Tata Electronics, and Murugappa Group, along with global giants like TDK Corporation, Hon Hai Technology Group (Foxconn), and AT&S Austria Technologie & Systemtechnik AG (AT&S AG), may also participate in the scheme.