Apple, Samsung give $5 bn thrust to India's local manufacturing scheme

Nishant AroraUpdated: Tuesday, January 18, 2022, 06:12 PM IST
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Apple's contract manufacturers in India -- Foxconn and Wistron -- will avail the PLI incentives for the first time this year. | Photo: Twitter

Apple and Samsung are expected to manufacture/assemble smartphones worth around $5 billion (nearly Rs 37,000 crore) in the financial year 2021-22.

The two companies are set to surpass the PLI targets set by the government by over 50 per cent, according to reports.

Pankaj Mohindroo, Chairman of the India Cellular and Electronics Association (ICEA) stated that besides Pegatron and Bharat FIH which are now gearing up, the big three - Wistron, Pegatron and Samsung will achieve significant production of $5 billion in 2022.

Apple's contract manufacturers in India -- Foxconn and Wistron -- will avail the PLI incentives for the first time this year, while Samsung, will avail the incentives under the scheme for the second year.

(With inputs from IANS)

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