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

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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