India plans $2B electronics development fund

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.

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TOPICS: Emerging Tech, India
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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: Emerging Tech, India

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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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  • India plans $2B electronics development fund

    another sleeping giant is waking up... prior to WWII, a japanese general warned of taking on USA as he considered it a sleeping giant. the rest is history. USA vis-a-vis USSR last century, CHINA vis-a-vis INDIA in this century?
    kc63092@...