Companies will get incentives for mobile phone manufacturing in India
The government will give subsidy to companies that produce mobile phones in India. Under this, these companies will be given an incentive of 4 to 6 percent according to the sales every year. It is also seen as an attempt to reduce Chinese supremacy. Significantly, Chinese companies currently hold about 70 percent of the Indian smartphone market. Among Chinese companies dominating the Indian market are companies like Xiaomi, Vivo, Oppo, One Plus, Realme.
The government announced a production-based incentive scheme (PLI) in April to promote mobile phone manufacturing in the country as part of the self-sufficient India campaign. Now 16 companies have been approved to give incentives, ranging from domestic to foreign companies.
Companies that are approved
Among the indigenous companies, the proposals of Lava, Bhagwati (Micromax), Padget Electronics (Dixon Technologies), UTL Neolinks and Optimus have also been approved. The proposal of AT&S, Accent Circuits, Vizikon, Valsin, Sahasra and Neolink has also been approved in the category of electronics components.
These include proposals from Foxconn Hon High, Wistron and Pegatron to manufacture phones on contract for Apple making iPhones. Apart from this, the proposals of Samsung and Rising Star have also been approved
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