iPhone makers gain nod for India manufacturing plan
Major iPhone assemblers for Apple Inc were among 16 companies that won approval to manufacture products in India under a plan aimed at attracting investment of more than 10.5 trillion rupees (US$143.2 billion) for mobile phone production over the next five years.
Apple’s primary suppliers — Foxconn Technology Group (富士康科技集團), Wistron Corp (緯創), Pegatron Corp (和碩) — and Samsung Electronics Co were among a list of global firms that were cleared by the Indian Ministry of Electronics and Information Technology, a statement said on Tuesday.
About 60 percent of the total production, or 6.5 trillion rupees, is expected to be exported in the next five years, the statement said.
India is attempting to lure the world’s biggest smartphone brands to make their products locally for global export with its Production Linked Incentive program, which signposts plans to increase manufacturing inducements each year.
Following clashes with China along its disputed Himalayan border earlier this year, New Delhi is seeking to woo firms looking to diversify their manufacturing bases away from China, as a growing global trade dispute and the COVID-19 pandemic have focused minds on the risks to supply chains.
Indian manufacturers Lava, Padget Electronics Pvt, UTL Neolyncs and Optiemus Electronics Ltd were also approved under the plan.