Among 16 companies, major iPhone assemblers for Apple Inc were the ones that have won the approval to manufacture products in India under a plan that aims at attracting investment of more than Rs. 10.5 trillion ($143 billion) for mobile-phone production over the next five years.
As per the statement released on October 6 the Ministry of Electronics and Information Technology cleared a list of global firms that include Apple’s primary suppliers – Foxconn Technology Group, Wistron Corp, Pegatron Corp – and Samsung Electronics Co.
“About 60% of the total production, or ₹ 6.5 trillion, is expected to be exported in the next five years,” the statement further stated.
With its Production Linked Incentive program that signposts plans to increase manufacturing inducements each year, India is attempting to lure the world’s biggest smartphone brands to make their products locally for global export.
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