New Delhi: In order to curb Chinese imports, the Centre is all set to boost the domestic industry producing electronic goods and semiconductor industries. For this four Cabinet notes have been prepared.

The decision comes in the wake of a report of National Security Advisor Shivshankar Menon of growing presence of Chinese products in the Indian domestic market.

The Centre has decided to take steps in this regard by taking cognizance of a report published in Jagran.

Sources said the Union Broadcasting and Information Ministry has devised several ways to restrict Chinese imports. The Ministry has proposed to set up an electronic development fund worth USD 5 billion to boost domestic semiconductor and microprocessor industry.

In addition, manufacturing of tools for this industry will also be increased.

The Government will also promote manufacturing of electronic goods required for automotive, consumer, industrial and networking industries.

The Centre will also give financial assistance for setting up these industries. It will give priority to procurement of the products of domestic electronic industry. It has also decided to set up two Semiconductor Wafer Fab at a cost of Rs 8000 crore.

The Government aims at extending the volume of trade in semiconductor from USD 4 billion to USD 40 billion by 2020.

JPN/Bureau