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Electronics Development Fund (EDF)

  May 14, 2017

Electronics Development Fund (EDF)

Formation of EDF was conceived in the National Policy on Electronics -2012. Later on in 2015, EDF was set up along with the “Digital India” agenda. As part of the "Digital India" agenda of the Government, and to develop the Electronics System Design and Manufacturing (ESDM) sector so as to achieve “Net Zero Imports” by 2020 and to look at India as their next destination to cater to the domestic Indian demand as well as act as an exports hub in the ESDM sector.
What are Fund of Funds and Daughter Funds?
Fund of Fund (FoF) is defined by the securities market regulator, SEBI, as a mutual fund scheme that invests primarily in other schemes of the same mutual fund or other mutual funds. An FoF scheme enables the participating investors to achieve greater diversification and spreads risks across a greater universe. The funds they invest in are commonly known as “daughter funds”.
Benefits: Electronics permeate in all sectors of economy and have a great economic and strategic importance. A major characteristic of the electronics sector is the importance of R&D and innovation due to high velocity of technology change. Intellectual Property is the most critical differentiator and a determinant of success for an electronics company.
The Department of Electronics and Information Technology, (Ministry of Communications and IT, Government of India) is coordinating strategic activities, promoting skill development programmes, enhancing infrastructure capabilities and supporting R&D for India’s leadership position in IT and IT-Enabled services. In furtherance to this objective, the Department of Electronics and Information Technology, (Ministry of Communications and IT, Government of India) has agreed to act as the Anchor Investor of the Fund.