India plans to offer up to $5 billion in incentives to companies making key components locally for electronics like mobiles and laptops.
This initiative is part of a strategy to reduce reliance on China and boost domestic production. India's electronics output has grown to $115 billion in 2024, making it the fourth-largest smartphone supplier globally. The new scheme will focus on components like printed circuit boards, aiming to improve local supply chains. India’s goal is to reach $500 billion in electronics manufacturing by 2030, with $150 billion from components.