Apple’s partners and Samsung apply for India’s $6.6 bn local smartphone production program
Samsung, Apple’s contract manufacturing partners Foxconn, Wistron and Pegatron, and Indian smartphone vendors Micromax and Lava among others have applied for India’s $6.6 bn incentive program aimed at boosting the local smartphone manufacturing, New Delhi said on Saturday.
The scheme, called Production-Linked Incentive Scheme, will offer a range of incentives to companies including a 6% financial incentive on additional sales of goods produced locally over five years, with 2019-2020 set as the base year, India’s IT Minister Ravi Shankar Prasad said in a press conference.
22 companies have applied for the incentive program — that also includes manufacturing of electronics components — and have agreed to export 60% of their locally produced units outside of India, said Prasad. He said the companies estimate they will produce smartphones and components worth $153 bn during the five-year duration.