Tag Archive : incentive

/ incentive

By Sankalp Phartiyal



a close up of a person using a cell phone: FILE PHOTO: A salesman checks a customer's iPhone at a mobile phone store in New Delhi


© Reuters/Adnan Abidi
FILE PHOTO: A salesman checks a customer’s iPhone at a mobile phone store in New Delhi

NEW DELHI (Reuters) – Three of Apple Inc’s top contract manufacturers plan to invest a total of almost $900 million in India in the next five years to tap into a new production-linked incentive plan, according to two sources familiar with the matter.

Foxconn, Wistron and Pegatron all plan to make investments under the scheme, said the sources, who asked not to be named as the discussions are private.

India’s new $6.65 billion production-linked incentive (PLI) scheme offers companies cash incentives on any increase in sales of locally-made smartphones over the next five years, compared with 2019-20 levels. The scheme aims to help transform India into an export manufacturing hub.



a close up of a tent: FILE PHOTO: Workers adjust a hoarding of the newly launched iPhone XS in Ahmedabad


© Reuters/Amit Dave
FILE PHOTO: Workers adjust a hoarding of the newly launched iPhone XS in Ahmedabad

Foxconn

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