India plans $2B electronics development fund

Summary:The government has proposed to set up a public-private partnership to help commercialize domestic products, and promote innovation among local manufacturers.

The Indian government has proposed a US$2 billion electronics development fund to support local companies, aimed at promoting innovation, intellectual property, research and development, and nano-electronics.

The plans were announced at a technology forum by Ajay Kumar, joint secretary of India's Department of Electronics and Information Technology, according to a report Thursday by the Hindu Business Line.

He said the government planned to participate with private players and will contribute 25 percent to 75 percent to co-fund manufacturing initiatives. Walden International, a venture capital fund, is in talks with the government to take part, Kumar added in the article.

Industry watchers believe this move is planned at setting up an eco-system to grow domestic electronics demand , and catch up with rival China, noted the news site.

Topics: Innovation, India


Loves caption contests, leisurely strolls along supermarket aisles and watching How It's Made. Ryan has covered finance, politics, tech and sports for TV, radio and print. He is also co-author of best seller "Profit from the Panic". Ryan is an editor at ZDNet's Asia/Singapore office.

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