Telecom Minister Ravi Shankar Prasad urged U.S. technology companies to invest in India to boost the local electronics manufacturing industry, The Hindu Business Line reported.
U.S. President Barack Obama arrived here for the second time. Prime Minister Narendra Modi and Obama are expected to boost trade relations, beef up defence cooperation and push for operationalising the civil nuclear pact.
Prasad noted that U.S. companies can avail of benefits that are given to electronics manufacturing in India.
The invitation is in line with the government’s Make in India initiative, which aims to strengthen the electronics manufacturing industry here. India recently had a deficit of 49,041.20 crore in 2013-2014 for importing telecom products worth 69,516.31 crore and exporting such items worth just 20,475.17 crore.
The Central Government also has made available an Electronic Development Fund worth billions of dollars to boost electronics manufacturing in the country, Prasad said.
