The government on Tuesday started inviting applications for Rs 50,000 crore inventive schemes to attract global mobile device makers and boost local companies for electronics manufacturing. IT and Telecom Minister Ravi Shankar Prasad said India will initially aim to attract top 5 global mobile manufacturing companies and also promote five local companies that will be identified through a screening process. “There is a total incentive of Rs 50,000 crore. There are 5-6 large companies that control 80 per cent of global mobile market. Initially, we will pick up five global champions who under the PLI scheme shall be permitted to participate. “Global and the local will together to make India a good manufacturing talented country supporting the global chain. We will also promote 5 Indian companies to become national champions,” Prasad said. The government had notified three schemes on April 1 for the promotion of electronics. These were schemes for manufacturing of electronic components and semiconductors, modified electronics manufacturing clusters (EMC 2.0) scheme, and production linked incentive scheme for large scale electronics manufacturing.

(Moneycontrol)