NEW DELHI – India has approved federal incentives to boost domestic smartphone production to 16 companies, including iPhone makers Foxconn, Wistron and Pegatron, according to reports.

The nearly $6.7 billion incentive program is part of the government’s “Make in India” plan. To participate, firms have to invest. Foxconn, Wistron and Pegatron reportedly plan to invest a total of almost $900 million in India over the next five years.

Samsung also received approval, along with five Indian companies, including Lava and Micromax.

The program offers incentive involving cash worth 4% to 6% of additional sales of goods made locally over five years.

Approved companies are expected to make smartphones and components worth more than 10.5 trillion rupees (US$143.05 billion).

PCB West Virtual 2020 has more than 125 hours’ worth of technical sessions on printed circuit design and manufacturing available through Oct. 12.  pcbwest.com 



 

Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article
Don't have an account yet? Register Now!

Sign in to your account