India approves multi-billion greenback incentives to draw smartphone producers

India has strengthened its bid to turn out to be a significant manufacturing hub for the smartphone business with a multi-billion package deal of incentives to encourage larger manufacturing and funding within the nation.

The $6.65 billion Manufacturing Linked Incentive (PLI) scheme guarantees authorised distributors with money rewards price between 4% and 6% on gross sales of units made in India over the following 5 years.

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