The Cabinet has approved three key schemes to incentivise electronics and components manufacturing exports and production in the country. The three schemes, with a total outlay of Rs. 48,042.25 crore, are expected to lead to investment to the tune of Rs. 20 lakh crore and employment opportunities for 25 lakh people over the next 5-6 years, union minister for electronics and IT, Ravi Shankar Prasad said during the briefing. “These schemes will play a big role in realising the dream of $1 trillion digital economy by 2025,” said Prasad. “These schemes will lead to Rs. 10 lakh crore of manufacturing by 2025 and creation of 20 lakh jobs,” said Prasad. He added that it will also help in reducing the country’s dependance on imports since electronics imports is the second largest in the country.

(Economic Times)