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Centre to launch incentive scheme to aid global brands set up local units

News Snapshot:

In a move aimed at promoting domestic manufacturing of high-end components, the Ministry of Electronics and Information Technology (MeitY) is soon set to roll out an incentive scheme of around Rs 10,000 to Rs 12,000 crore. According to an ET report, the main objective of rolling out such a scheme is to create a complete ecosystem in manufacturing electronics in India, and would help global brands like Apple to enhance production at a local level. “The scheme may offer incentives on production of components as well as capital support for setting up production facilities. The final contours of the scheme…

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