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Electronic development fund mooted

The union cabinet has decided to set up an Electronic Development Fund (EDF) to support the electronics industry. The fund will be managed by SIDBI or a similar financial institution, according to sources in the ministry of communications and IT. A government official also said there is need for funds for electronic design, manufacturing and nano technologies, which will be the fund of funds, which will provide risk capital to companies developing new technologies in these areas. He revealed that the cabinet meeting has given the ‘go ahead’ to a proposal in this regard by the department of electronics and IIT, to help the electronics industry grow. He said the government will also set up an EDF management board, which will include representatives from DeitY and some industry bodies.

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