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India is giving more than a dozen companies new incentives to invest in the country’s smartphone industry, bolstering an ambitious campaign from Prime Minister Narendra Modi to rebrand the country as the world’s next manufacturing hub.



a person holding a camera: An employee tests the camera quality of mobile phones on an assembly line in the mobile phone plant of Rising Stars Mobile India Pvt., a unit of Foxconn Technology Co., in Sri City, Andhra pradesh, India, on Thursday, July 11, 2019. Foxconn, also known as Hon Hai Precision Industry Co., opened its first India factory four years ago, it now operates two assembly plants with plans to expand those and open two more. The company was integral to Chinas transformation into a manufacturing colossus, and founder Terry Gou has told India's Prime Minister Narendra Modi that Foxconn could help India do the same. Photographer: Karen Dias/Bloomberg via Getty Images


© Karen Dias/Bloomberg via Getty Images
An employee tests the camera quality of mobile phones on an assembly line in the mobile phone plant of Rising Stars Mobile India Pvt., a unit of Foxconn Technology Co., in Sri City, Andhra pradesh, India, on Thursday, July 11, 2019. Foxconn, also known as Hon Hai Precision Industry Co., opened its first India factory four years ago, it now operates two assembly plants with plans to expand those and open two more. The company was integral to Chinas transformation into a manufacturing colossus, and founder Terry Gou has told India’s Prime Minister Narendra Modi that Foxconn could help India do the same. Photographer: Karen Dias/Bloomberg via Getty

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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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