Apple’s partners and Samsung apply for India’s $6.6 billion local smartphone production program

Apple’s partners and Samsung apply for India’s $6.6 billion local smartphone production program

on Saturday
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https://techcrunch.com/2020/08/01/apples-partners-and-samsung-apply-for-indias-local-smartphone-production-program/

South Korean giant Samsung, Apple’s contract manufacturing partners Foxconn, Wistron and Pegatron, and Indian smartphone vendors Micromax and Lava among others have applied for India’s $6.6 billion incentive program aimed at boosting the local smartphone manufacturing, New Delhi said on Saturday.

The scheme, called Production-Linked Incentive Scheme, will offer a range of incentives to companies including a 6% financial incentive on additional sales of goods produced locally over five years, with 2019-2020 set as the base year, India’s IT Minister Ravi Shankar Prasad said in a press conference.