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

Reuters

Last Updated: August 01, 2020, 14:08 IST

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.

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.

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first published:August 01, 2020, 14:08 IST
last updated:August 01, 2020, 14:08 IST