"My Ministry has approved Rs 6,831 venture fund for electronics development. We have given seed money of Rs 681 crore on the basis of which more venture capital will be raised," Rajiv Bansal, MeitY GOI Joint Secretary told reporters here at the on going IESA Vision Summit 2017.
The electronic development fund is the monther fund that will contribute to various funds under it for those who invest the money in companies for creation of intellectual property rights in the field of electronics and IT.
He said that investments in electronic manufacturing, which was just Rs 11,000 crore in June 2014, has increased to Rs 1,27,880 crore and from 6 crore mobile handsets in 2014-15, India's mobile manufacturing capacity has increased to 11 crore in 2015-16.
The electronics production in the country has increased across segment with value of LED products registering an increase of 65 per cent to Rs 3,590 crore in 2015-16 from Rs 2,172 crore in 2014-15.