India is reportedly planning to invest a heavy sum of $20 billion to help develop the LCD panel industry. According to a DigiTimes report via local news agencies, the government will utilize the investment to boost the production and supply of LCD panels in India.
The Ministry of Electronics and Information Technology plans to come out with investment incentive in six months and based on the MoUs it received from potential local and overseas investors, establishment of local panel production supply chains will commence.
Ministry’s secretary Ajay Prakash Sawhney announced in a virtual conference that India would be capable of supporting three to four large scale LCD panel investment projects with a budget of $20 billion.
The report further adds that the country is aiming to establish 6G lines to launch panels for mobile device applications and 8.5G lines for additional applications. As per data compiled by the India Cellular and Electronics Association (ICEA), annual demand for LCD panels in India has reached $5.4 billion and is expected to reach $18.9 billion in 2025.