Bangalore: As a fast developing markets for electronics, India has been spending huge amounts of money on importing  goods and services required for this sector. After the import of crude oil, it is electronics that India spends the most. As an initiative to curb the rising expenditure in the area, the Government of India has planned to incubate technology startups to promote local production of electronic goods.

Tie ups have been made with leading institutes like International Institute of Information Technology and Delhi University, reports ET.

Ajay Kumar, joint secretary, Department of Electronics and Information Technology said “"Promoting startup incubators is an important part of the policy.” National Electronic Policy 2012, had set apart Rs 1000 crore towards electronic development fund and at least four incubators are being planned to setup this year.

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