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Old 01-08-2020, 7:13 PM
darrveny darrveny is offline
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Apple vendors and Samsung among the 22 companies applying for India's $6.6B PLI Schem

Samsung, Apple suppliers Foxconn, Wistron and Pegatron, and local smartphone makers Micromax and Lava are among the companies that have applied for India's Production-Linked Incentive Scheme (PLI). Totaling $6.6 billion, the program aims to encourage smartphone and electronics components production in the country.

22 companies in the smartphone manufacturing field have submitted applications for the incentive scheme with Chinese makers under the BBK wing (Oppo, OnePlus, Realme, vivo) missing from the list.

An estimated $153 billion worth of smartphones and components are to be produced over the 5-year span of the program. Under the rules of the incentive, the manufacturers have agreed to export 60% of the products outside of India. 300,000 new jobs will be directly created in the process, with an additional 900,000 new jobs indirectly related.

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