The Ministry of Electronics and IT (MeitY) is in the process of chalking out an incentive scheme for manufacturing such devices and expects to launch it in the coming months.
The government is planning a big push for the domestic manufacture of new technology devices – including wearables (smartwatches/ fitness trackers), hearables (in-ear wireless hearing devices), drones, virtual/augmented reality and Internet of Things products — in the country this year.
The Ministry of Electronics and IT (MeitY) is in the process of chalking out an incentive scheme for manufacturing such devices and expects to launch it in the coming months.
The sops will be in line with the Production Linked Incentive (PLI) scheme launched for mobile phones and components last year and is aimed at capturing the huge, anticipated demand for wearable, hearables as well as IoT and VR devices.
READ more: Big incentive scheme coming for wearables, hearables, IoT devices and drones in 2021