India to offer $4-$5 bn in incentives for electronics production

India is aiming to expand its electronics mfg to $500 billion by the fiscal year 2030, including production of components worth $150 billion

India will offer up to $5 billion in incentives to companies to make components locally for gadgets from mobiles to laptops, two government officials said, in a bid to bolster the burgeoning industry and wean off supplies from China, Reuters reported.

India's electronic production has more than doubled in the last six years to $115 billion in 2024, led by growth in mobile manufacturing by global firms such as Apple and Samsung. It is now the world's fourth-largest smart phone supplier.