Apple, Samsung among 16 companies 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.