Govt proposes to invest Rs 1227 crore through EDF to push IPR in electronics
The government has proposed to contribute Rs 1,227 crore through electronic development fund to boost intellectual property rights in the field of information technology and electronics. According to information updated on Ministry of Electronics and IT, the total corpus recommended to be invested by 22 daughter fund in technology firms is around Rs 10,906 crore, in which government has proposed to contribute Rs 1,227 crore, subject to final approval of the EDF board.
When contacted about the status of EDF, a Meity official said the government has so far approved investment in 13 daughter funds.
"EDF will be investing in 13 daughter funds over a period of 4-5 years. The total targeted corpus of these 13 daughter funds is Rs 6,950 crore and the amount committed by EDF to these 13 daughter funds is Rs 857 crore," Meity spokesperson said.