Apple’s Taiwan suppliers, Samsung apply for India’s local smartphone scheme By Reuters

Apple's Taiwan suppliers, Samsung apply for India's local smartphone scheme


© Reuters. FILE PHOTO: People wear masks to protect themselves from coronavirus disease (COVID-19), while listening to the annual general meeting at the lobby of Foxconn’s office in Taipei

NEW DELHI (Reuters) – Apple Inc’s (O:) Taiwan contract manufacturers Foxconn (TW:), Wistron Corp (TW:) and Pegatron Corp (TW:) have applied for India’s $6.5 billion scheme to boost local smartphone manufacturing, the country’s tech minister said on Saturday.

South Korea’s Samsung Electronics (OTC:) Co Ltd (KS:) has also applied for the production-linked incentive (PLI) scheme, technology minister Ravi Shankar Prasad told a news conference.

The plan offers companies cash incentives on additional sales of devices made locally over five years, with 2019-2020 as the base year.

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