India Approves $4.6 Billion to Boost Electronics Supply Chain

India has approved $4.6 billion in electronics component investments as the Narendra Modi government steps up efforts to build local supply chains and challenge China.

The Ministry of Electronics and Information Technology cleared 22 proposals under its Electronics Components Manufacturing Plan, projected to generate 2.58 trillion rupees ($28.6 billion) in output, according to a government statement on Friday.