Apple, Samsung among 16 companies to get Indian govt. approval for manufacture of smartphones locally

Apple’s three contract producers and Samsung are among 16 companies that acquired formal authorities approvals below a $6.65 billion production-linked incentive (PLI) scheme. This is an element of India’s plans to encourage native manufacture of shopper electronics over the subsequent 5 years so as to enhance exports. 

A press release from the Ministry of Electronics and Information Technology late final night mentioned these companies can be manufacturing smartphones and different electronics elements price greater than $143 billion over the subsequent 5 years. This is an element of Prime Minister (*16*) Modi’s Make in India scheme the place companies stand to achieve between 4% to 6% on extra gross sales of items produced locally over the subsequent 5 years. 

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