The Indian government plans to inject $20bn to facilitate the establishment of a supply chain for LCD panels in the country.
According to local media reports, the Ministry of Electronics and Information Technology will set up the relevant investment incentive plan within six months based on a memorandum of understanding received from potential local and overseas investors to facilitate the establishment of a local LCD panel supply chain.
India will invest in three to four large LCD panel projects with a budget of around $20 billion, defence minister Ajay Prakash Sawhney said at a recent online conference. India will focus on providing panels for mobile device applications on 6G lines and other applications on 8.5G lines.
According to data compiled by the Indian Handset and Electronics Association (ICEA), annual demand for LCD panels in India is expected to reach $5.4 billion in 2020 and $18.9 billion in 2025.
