India government approves electronic project component worth $4.6 billion

India government has approved electronic component project worth $4.6 billion (418.63 billion rupees) to boost Make in India goal of Prime Minister Narendra Modi. The new initiative of the government will boost domestic manufacturing on India soil.

Companies whose projects have been approved include Tata Electronics, Foxconn and Samsung Electronics. India government also is providing subsidies to companies under a scheme called Electronics Component Manufacturing Scheme.