Budget 2021 includes several initiatives to promote science, technology, and innovation with applications in the country. It is a forward-looking budget to substantially boost support for R&D in the key identified areas of national priorities. These are also in line with the projections in the draft Science Technology and Innovation Policy 2021 put up for public consultations. This includes a total allocation of Rs 50,000 crore (€5.9 billion) over 5 years for the National Research Foundation, an autonomous body envisaged to support researchers working across several streams of S&T with special focus on universities.

The Indian government has finalized PLI norms for the telecom and network equipment manufacturing. The cabinet had recently approved the broader PLI scheme worth Rs 12,200 crore (€1.4 billion) to boost local manufacturing of telecom gear for both the domestic market and exports. The scheme will cover core transmission equipment, 4G/5G and next-generation radio access network and wireless equipment, access, and customer premise equipment (CPE), Internet of Things (IoT) access devices, and enterprise equipment such as switches and router.

The Union Cabinet approved the production-linked incentive (PLI) scheme for air conditioners (ACs) and light-emitting diode (LED) lights with an aim to boost the local component supply ecosystem for these items. Under the new PLI, a sum of Rs 6,238 crore (€73 billion) has been approved as incentives to selected manufacturers over a five-year period starting 2021-22.  Since last April, the cabinet, headed by Prime Minister, has approved PLI for five sectors. But unlike the previous ones the latest scheme solely focuses on component manufacturing.

The Indian government has finalized PLI norms for the telecom and network equipment manufacturing. The cabinet had recently approved the broader PLI scheme worth Rs 12,200 crore (€1.4 billion)  to boost local manufacturing of telecom gear for both the domestic market and exports. The scheme will cover core transmission equipment, 4G/5G and next-generation radio access network and wireless equipment, access and customer premise equipment (CPE), Internet of Things (IoT) access devices, and enterprise equipment such as switches and router.The Indian government has finalized PLI norms for the telecom and network equipment manufacturing. The cabinet had recently approved the broader PLI scheme worth Rs 12,200 crore (€1.4 billion)  to boost local manufacturing of telecom gear for both the domestic market and exports. The scheme will cover core transmission equipment, 4G/5G and next-generation radio access network and wireless equipment, access and customer premise equipment (CPE), Internet of Things (IoT) access devices, and enterprise equipment such as switches and router.

MoS for Education, Communications, Electronics and IT, said that materials are the backbone of the manufacturing sector in the country and that India’s electronics manufacturing has grown from Rs 1.90 lakh crore (€ 22.3 billion) International Energy Agency akh crore to Rs 5.33 lakh crore (€62.7 billion) in recent years. From contributing approximately 1.3% in 2012, the share of mobile phone manufacturing has increased to 3.6 per cent during 2019 - 2020. This growth has opened employability for thousands,".

India wants to start negotiations on an investment deal with the European Union simultaneously with a trade agreement in a renewed push to boost bilateral ties with the trade bloc. Keen to accelerate investments, technology and capital flows from the EU, India wants the investment and trade deals to happen parallelly and independently. “Both the investment deal and trade deal will have to happen parallelly and independently. The EU has said it is ready to consider launching negotiations on a standalone investment protection agreement, which would increase legal certainty for investors on both sides. 

The key sectors which attracted the maximum of these inflows include services segment, computer software and hardware, telecommunications, trading, construction, automobile, chemicals, and pharmaceuticals. FDI equity inflows into India crossed the USD 500 billion milestone during April 2000 to September 2020 period, firmly establishing the country's credentials as a safe and key investment destination in the world. According to the data of the Department for Promotion of Industry and Internal Trade (DPIIT), the inflows during the period stood at USD 500.12 billion. About 29% of the FDI came through the Mauritius route. It was followed by Singapore (21 %), the US, the Netherlands, Japan (each 7%), and UK (6 %).