Govt Rolls Out $143 Billion Plan For iPhone & Mobile Production In India

New Delhi: The government has given the go-ahead to 16 mobile phone makers to set up production in India.

These include Apple’s major suppliers Foxconn Technology Group, Wistron Corp, Pegatron Corp, and Samsung Electronics Co.

The government is luring the world’s biggest electronics makers to set up shop in the country via a Production Linked Incentive plan. This will attract investment of more than Rs 10.5 trillion ($143 billion) in the next five years.

About 60 per cent of the total production, or Rs 6.5 trillion, is expected to be exported in the next five years, the Ministry of Electronics and Information Technology said.

As companies are increasingly looking to decrease their dependence on China, India expects to cash in on the situation.

Local manufacturers Lava, Padget Electronics Pvt, UTL Neolyncs and Optiemus Electronics Ltd have also got approved under the plan.

Also Read: Samsung To Make TVs In India From December, Seeks Approval To Import Till Then