India to fund new STB developments

India’s Dept of Electronics & Information Technology is to put 1 billion Rupees (about $16 million) to help fund development of locally made set-top boxes. The cash will also provide manufacturers with long-term credit facilities and other fiscal aids to jump-start the process.

The fund will also be channelled through India’s Credit Guarantee Fund which exists to help smaller businesses to establish new ventures with the need for high levels of security or third-party guarantees.

The concept is also designed to directly combat the entry into the market of low-cost ‘zap’ boxes which are often supplied into the market on highly favourable financing terms by Chinese manufacturers.

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