Apple, Samsung amongst 16 firms to get Indian govt. approval for manufacture of smartphones regionally

Apple’s three contract producers and Samsung are amongst 16 firms that obtained formal authorities approvals below a $6.65 billion production-linked incentive (PLI) scheme. That is a part of India’s plans to encourage native manufacture of client electronics over the subsequent 5 years to be able to increase exports

A statement from the Ministry of Electronics and Data Know-how late final night mentioned these firms could be manufacturing smartphones and different electronics parts value greater than $143 billion over the subsequent 5 years. That is a part of Prime Minister Narendra Modi’s Make in India scheme the place firms stand to realize between 4% to six% on extra gross sales of products produced regionally over the subsequent 5 years. 

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