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India to offer up to US$5b in incentives for electronics production, weaning off China

  • India plans to provide up to $5 billion in incentives for local electronics companies to reduce reliance on Chinese imports and boost local manufacturing.
  • The goal is to grow electronics manufacturing to $500 billion by FY 2030, focusing on $150 billion in components.
  • Last fiscal year, India imported $89.8 billion in electronics, over half from China and Hong Kong, raising concerns about dependency on imports.
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