Government of India has approved the communications ministry’s policy to set up an Electronics Development Fund (EDF). Electronics Development Fund (EDF) is for promoting innovation, intellectual property (IP), research and development (R&D) and commercialization of products in the Electronics System Design and Manufacturing (ESDM), Nano-electronics and IT sectors.
Government had also approved on 5th june 2014 setting up of electropreneur park at an estimated cost of Rupees 21.10 crore, this would be implemented by STPI, jointly with Delhi University and India Electronics & Semiconductor Association, Bangalore, for development of Product and IP creation in the ESDM sector.
These are the two important approvals for the growth of Electronic System Design and Manufacturing (ESDM) in India.
India Electronics and Semiconductor Association (IESA) lauds the Government of India’s approval on setting up of Electronics Development Fund (EDF).
“EDF is the key pillar to boost local ‘Innovation Led Design’ and we all applaud DeitY’s and Hon’ble Communication & IT Minister’s for perseverance and push to get this finally approved. The EDF will provide greater incentivization to R&D and incubation centres to spur the local IP development and product creation which constitutes greater than 50% value addition for electronic products. Extended support of the government to the entrepreneurs to create value by ‘Design led Manufacturing’ in the ESDM ecosystem in India is commendable,” said Ashok Chandak, Chairman, IESA and Sr. Director, NXP Semiconductors.
Mr. M.N. Vidyashankar, IAS, President, IESA said, “We have been working with the Union and various state governments on policy matters and roadmap to make India an ESDM powerhouse. As the nodal body for electronics and semiconductors, we are providing a huge thrust to support start-ups in the electronics space and the Electronics Development Fund will be crucial in this direction. Offering incredible innovation opportunities will assist to overcome key challenges faced by the start-up community and help to realize the government’s Make in India dream.”