Indian Government Launches New Schemes to Boost Electronics Manufacturing
The Indian government has launched two new schemes aimed at enhancing the global competitiveness of the Indian electronics sector. The Mobile Phone Manufacturing Scheme (MPMS) and the Indian Semiconductor Mission 2 (ISM2) are designed to sustain momentum in handset design and manufacturing, as well as deepen value addition in the semiconductor industry. The MPMS, with a budgetary outlay of Rs 625 billion, provides incentives for mobile phone manufacturing and aims to scale up production to Rs 39 trillion. ISM2 focuses on strengthening the electronic supply chain, developing talent, and generating intellectual property across the sector.