India says Apple, 21 firms pledge $1.5 billion investment

India says Apple, 21 firms pledge $1.5 billion investment

India says Apple, 21 firms pledge $1.5 billion investment

A total of 22 firms have applied to the scheme, which the government expects will generate smartphone production worth $154 billion and create 300,000 direct jobs over five years.

The minister said these proposals under the government's Rs 41,000-crore production-linked incentive (PLI) scheme for mobile phone manufacturing are expected to create around 12 lakh jobs, 3 lakh direct and 9 lakh indirect employment opportunities, in the country. He added that while 22 applications were received for Mobile And Electronics PLI Scheme, 40 companies have shown interest in the components scheme. As reported by TOI in its edition on Saturday, Apple's contract manufacturers, Wistron, Pegatron and Foxconn, Korean giant Samsung along with Indian players such as Dixon Lava and Micromax will manufacture mobile phones under the government's production-linked incentive scheme.

South Korea's Samsung Electronics Co Ltd has also applied for incentives under the plan, technology minister Ravi Shankar Prasad told a news conference.

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Under the scheme, for worldwide mobile handset making companies, the minimum retail invoice price per unit has been set at Rs 15,000 to avail benefits and the incentive for the first year has been fixed at 6 per cent of their incremental sales. Container loads of goods from Apple's key contract manufacturer have already reached India in the wake of the pandemic and China's initial attempt to smother information about its outbreak.

Meanwhile, around 8-10 companies have filed applications for component manufacturing which include motherboard maker AT&S, Ascent Circuits, Sahasra and Vitesco.

Union telecom and IT minister Ravi Shankar Prasad has announced that as many as 22 domestic and worldwide firms have lined up with proposals for mobile phones production worth Rs 11 lakh crore, which have potential to create direct and indirect jobs for around 12 lakh people over the next five years.

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The worldwide firms have proposed production to the tune of Rs 9 lakh crore in the next five years.

When asked about Chinese companies participating or any restrictions on them, Prasad said, "As an IT Minister I am not supposed to comment upon the individual business decision from any country.there are norms by the government of India and we are very clear on them and those norms have to be complied". These companies are expected to expand their manufacturing operations in a significant manner and grow into national champion companies in mobile phone production.

These schemes jointly offer incentives of around Rs 50,000 crore over the period of next five years. The step is also part of Prime Minister Narendra Modi's calls for a self-reliant India aimed at boosting local manufacturing and reducing dependence on imports.

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"This will lead to production of electronics components worth Rs. 45,000 Crore, which will supply components to medical electronics, automobile, telecom, industrial and other segments of electronics", the release said.

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