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.

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The government has started inviting applications for the second round of large-scale electronics manufacturing under the production-linked incentive (PLI) scheme with focus on some electronic components like motherboards boards   semiconductor devices, among others. The application window for the scheme has been opened till March 31 which may be further extended, as per guidelines issued by the Ministry of Electronics and IT (Meity).

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.

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Guidelines for enlistment under "Approved Models and Manufacturer of Solar Photovoltaic Modules Order, 2019" – Amendment.

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.

Prime Minister said production linked incentive scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by USD 520 billion in the next five years. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about USD 520 billion in the next five years".  There is also an expectation that the current workforce in the sectors, which will avail the benefits of the PLI scheme, will be doubled and job creation will also increase.

India has implemented several measures to facilitate trade, such as simplification of procedures and customs clearances for imports and exports, according to WTO. Geneva-based World Trade Organisation said that the other trade-facilitation initiatives introduced by India since 2015 include introduction of Indian Customs Electronic Gateway (ICEGATE); Single Window Interface for Facilitation of Trade (SWIFT); the Direct Port Delivery and the Direct Port Entry facilities; and the increased use of the Risk Management System (RMS). These points were part of the report of India’s seventh Trade Policy Review (TPR), which began on January 6 at the World Trade Organization.