India
India India’s expertise minister says three contract producers for Apple iPhones and South Korea’s Samsung have utilized for large-scale electronics manufacturing rights in India beneath a $6.5 billion incentive scheme introduced by the federal government
August 1, 2020, 2:56 PM
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NEW DELHI —
Three contract producers for Apple iPhones and South Korea’s Samsung have utilized for large-scale electronics manufacturing rights in India beneath a $6.5 billion incentive scheme introduced by the federal government, a minister stated Saturday.
The scheme will lengthen money incentives of 4-6% for 5 years on incremental gross sales of products manufactured in India with 2019-2020 as the bottom 12 months, Expertise Minister Ravi Shankar Prasad instructed reporters
The worldwide cellphone manufacturing firms which have utilized beneath the scheme are Samsung, Rising Star and three Apple contract producers — Foxconn Hon Hai, Wistron and Pegatron.
Prasad stated the scheme is predicted to extend Apple’s and Samsung’s manufacturing base manifold in India.
Practically two dozen Indian and worldwide firms within the cellphone section have utilized for the scheme, which is predicted to generate 300,000 direct jobs within the nation, Prasad stated.
