Apple, Samsung among 16 companies to get Indian govt. approval for manufacture of smartphones locally null

Apple’s three contract manufacturers and Samsung are among 16 companies that received formal government approvals under a $6.65 billion production-linked incentive (PLI) scheme. This is part of India’s plans to encourage local manufacture of consumer electronics over the next five years in order to increase exports

A statement from the Ministry of Electronics and Information Technology late last evening said these companies would be manufacturing smartphones and other electronics components worth more than $143 billion over the next five years. This is part of Prime Minister Narendra Modi’s Make in India scheme where companies stand to gain between 4% to 6% on additional sales of goods produced locally over the next five years.