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GCC Cybersecurity Ministerial Committee Holds First Meeting in Riyadh

The GCC Cybersecurity Ministerial Committee holds its first meeting at the headquarters of the GCC Secretariat General in Riyadh. (SPA)
The GCC Cybersecurity Ministerial Committee holds its first meeting at the headquarters of the GCC Secretariat General in Riyadh. (SPA)
TT
TT

GCC Cybersecurity Ministerial Committee Holds First Meeting in Riyadh

The GCC Cybersecurity Ministerial Committee holds its first meeting at the headquarters of the GCC Secretariat General in Riyadh. (SPA)
The GCC Cybersecurity Ministerial Committee holds its first meeting at the headquarters of the GCC Secretariat General in Riyadh. (SPA)

The Gulf Cooperation Council (GCC) Cybersecurity Ministerial Committee held its first meeting at the headquarters of the GCC Secretariat General in Riyadh.

The meeting was attended by the heads of specialized institutions in cybersecurity in GCC countries and GCC Secretary-General Dr. Nayef Al-Hajraf. Saudi Arabia was represented by the National Cybersecurity Authority.

The gatherers discussed work papers presented by GCC countries, which aim at boosting cooperation in cybersecurity fields at the Gulf level through several initiatives concerned with developing the cybersecurity sector.

Heads of institutions discussed several issues of mutual interest in the cybersecurity field, including implementing joint cybersecurity exercises in GCC countries to bolster the exchange of information and expertise and contribute to developing the sector.

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India to Offer $4-$5 Bln in Incentives for Electronics Production, Weaning Off China

A social media influencer uses a phone on the day of the unveiling of Hyundai IONIQ 9, a three-row electric SUV during a Hyundai event in the Hollywood Hills in Los Angeles, California, US, November 20, 2024. REUTERS/Daniel Cole
A social media influencer uses a phone on the day of the unveiling of Hyundai IONIQ 9, a three-row electric SUV during a Hyundai event in the Hollywood Hills in Los Angeles, California, US, November 20, 2024. REUTERS/Daniel Cole
TT
TT

India to Offer $4-$5 Bln in Incentives for Electronics Production, Weaning Off China

A social media influencer uses a phone on the day of the unveiling of Hyundai IONIQ 9, a three-row electric SUV during a Hyundai event in the Hollywood Hills in Los Angeles, California, US, November 20, 2024. REUTERS/Daniel Cole
A social media influencer uses a phone on the day of the unveiling of Hyundai IONIQ 9, a three-row electric SUV during a Hyundai event in the Hollywood Hills in Los Angeles, California, US, November 20, 2024. REUTERS/Daniel Cole

India will offer up to $5 billion in incentives to companies to make components locally for gadgets from mobiles to laptops, two government officials said, in a bid to bolster the burgeoning industry and wean off supplies from China.
India's electronic production has more than doubled in the last six years to $115 billion in 2024, led by growth in mobile manufacturing by global firms such as Apple and Samsung. It is now the world's fourth-largest smart phone supplier.
But the sector faces criticism for its heavy reliance on imported components from countries such as China.
"The new scheme will incentivize production of key components like printed circuit boards that will improve domestic value addition and deepen local supply chains for a range of electronics," one of the two officials said.
The incentives are likely to be offered under a new scheme expected to be launched in two to three months, said the officials, who asked not to be identified as details of the scheme are not yet public.
The scheme is likely to offer incentives totaling between $4-$5 billion to global or local firms which qualify, Reuters reported.
The plan, designed by the India's electronics ministry, has identified components eligible for incentives and is in its final stages.
The finance ministry will approve the scheme's final allocation soon, the first official added, with the sources expecting it to be launched in the next 2-3 months.
India's electronics ministry and finance ministry did not immediately respond to requests for comment.
India is aiming to expand its electronics manufacturing to $500 billion by the fiscal year 2030, including production of components worth $150 billion, according to the government's top policy think tank Niti Aayog.
India imported electronics, telecoms gear, and electrical products worth $89.8 billion in the fiscal year 2024, with more than half sourced from China and Hong Kong, according to an analysis by private think tank GTRI.
"This scheme is coming at a time when it is critical to promote component manufacturing that will help us aim for a global-scale of electronics production," Pankaj Mohindroo, head of India's Cellular and Electronics Association, said.