Published on 1/08/2020 2:40:59 PM | Source: Reuters

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

Posted in Industry News| #India #Samsung #Smart Phone #Industry #Apple

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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.

(Reporting by Sankalp Phartiyal; Editing by Kim Coghill)