After the ban on Chinese apps and products in the Indian market, India’s ruling government has asked to boost the manufacturing and sales of India’s Phone production market. Smartphone manufacturing brands like- Dixon, Samsung, Apple, and Lava are some of the prominent brands stocked up with several proposals.
Ravi Shankar Prasad, Minister of Law and Justice of India, said that these mobile phone manufacturing proposals come under a government-issued PLI (production-linked incentive) of rupees 41,000 crores. This scheme has been planned especially for the phone manufacturing market.
Soon after this, more than 22 mobile phone brands have applied for large-scale gadget manufacturing rights in India. These applications have been received under the rupees 11 lakh crore scheme. The ruling government of India announced this scheme on Saturday.
Regarding this, Ravi Shankar Parsad held a press conference where he announced the PLI scheme for the mobile manufacturing market.
- To be precise, 22 companies applied this PLI scheme.
- Out of 22 companies, three brands, including- Pegatron, Foxcon Hon Hai, and Wistron, are Apple iPhone, contract manufacturers.
During the conference, Prasad said- “There will be huge (mobile phone) production of around ₹11 lakh crore, huge export of around ₹7 lakh crore, and great employment opportunity for 3 lakh direct and 9 lakh indirect people. I personally thank all the companies that have applied,” Source: Livemint.
Further, he said that some of the Indian companies like- Bhagwati (Micromax), Dixon Technologies, Lava, Sojo Manufacturing Services, etc. have applied the announced PLI, whereas the other ten companies have registered under the Specific Electronic Component Segments. These companies have applied for several production components worth rupees 45000 crores, and it includes- Vitesco, AT&S, Walsin, Neolync, Sahasra.
For more updates, stay tuned with us!