Electronics Development Fund or EDF is a government of India initiative envisioned to develop the Electronics System Design and Manufacturing (ESDM) sector in India. It is part of the government’s ‘Digital India’ drive. It is under the IT department.
This is an important topic for the IAS exam.
|Complement your UPSC 2021 preparation with the following links:|
Background of the Electronic Development Fund
Formation of EDF was conceived in the National Policy on Electronics -2012. Later, on 6 January 2015, EDF was set up along with the “Digital India” agenda of the Government, which is envisaged to develop the Electronics System Design and Manufacturing (ESDM) sector to achieve “Net Zero Imports” by 2020. The Electronics Development Fund Policy was launched by Hon’ble Prime Minister of India, Shri Narendra Modi, during the inauguration of Digital India Week on 1 July 2015. Government formally launched EDF on 15 February 2016 with handing over of the letter of commitment to the first group of Daughter Funds under EDF.
EDF is set up with industry involvement. Setting up of EDF is expected to create a vibrant ecosystem of innovation and research and development (R&D) in the sector. Some state Governments have similar initiatives.
The aim of this Electronic Development Fund is to be enabled completely to be a part of the formation of a vibrant ecosystem of innovation, research, and development (R&D) and with active industry involvement.
When was the EDF planned to be executed?
The Electronic Development Fund was first mentioned in the National Policy on Electronics, 2012. The government formally launched EDF on 15 February 2016.
Who is the Fund Manager of EDF?
The Fund Manager of EDF is CANBANK Venture Capital Funds Ltd. (CVCFL).