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Apple's Taiwan suppliers, Samsung apply for India's local smartphone scheme

Apple's Taiwan suppliers, Samsung apply for India's local smartphone scheme

Apple Inc’s Taiwan contract manufacturers Foxconn, Wistron Corp and Pegatron Corp have applied for India’s $6.5 billion scheme to boost local smartphone manufacturing, the country’s tech minister said on Saturday.

  • Reuters
  • Last Updated: August 1, 2020, 2:08 PM IST

NEW DELHI Apple Inc’s Taiwan contract manufacturers Foxconn, Wistron Corp and Pegatron Corp have applied for India’s $6.5 billion scheme to boost local smartphone manufacturing, the country’s tech minister said on Saturday.

South Korea’s Samsung Electronics Co Ltd has also applied for the production-linked incentive (PLI) scheme, technology minister Ravi Shankar Prasad told a news conference.

The plan offers companies cash incentives on additional sales of devices made locally over five years, with 2019-2020 as the base year.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor



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