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India reportedly to invest US$20 billion to develop LCD panel industry

India's government plans to inject US$20 billion to promote the establishment of related LCD panel supply chains in the country, according to local media reports.

Based on the MoUs it received from potential local and overseas investors, India's Ministry of Electronics and Information Technology will map out related investment incentive plans in six months to facilitate the buildup of the local panel supply chain, the reports said.

India would be able to support 3-4 large-scale LCD panel investment projects with a budget of about US$20 billion, the ministry's secretary Ajay Prakash Sawhney was cited as revealing at an online conference.

India will focus on establishing 6G lines to roll out panels for mobile device applications and 8.5G lines for other applications, said the reports.

Annual demand for LCD panels in India reached US$5.4 billion in 2020 and is likely to amount to US$18.9 billion in 2025, according to data compiled by the India Cellular and Electronics Association (ICEA).