The government of India is apparently planning on investing a heavy sum of 20 billion US Dollars to help develop the LCD panel industry. This investment will be used to promote the establishment of production and LCD panel related supply chains in the country.
According to a DigiTimes report, local news agencies have revealed that the local government is reportedly aiming to develop LCD panel production in India. The Ministry of Electronics and Information Technology will lay out investment incentive plans in six months that will facilitate the building of local panel production supply chains, based on the MoUs it received from potential local and overseas investors.
Through this investment, India would be capable of supporting about three to four large scale LCD panel investment projects that will have a budget of about 20 billion US Dollars. This figure was said to be announced by the ministry’s secretary Ajay Prakash Sawhney in an online conference. Furthermore, the reports added that the nation is also preparing to establish 6G lines to roll out panels for mobile device applications and 8.5G lines for other applications as well.
At the moment, the annual demand for LCD panels in India has reached 5.4 billion US Dollars. This figure is further expected to grow and to reach 18.9 billion US Dollars in 2025, as per data compiled by the India Cellular and Electronics Association (ICEA). So stay tuned for more, as we will be providing updates when additional information is available regarding this matter.
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