Smartphone makers are hoping for exports from India to continue their strong showing, which will drive their own growth as production levels are reaching their saturation point if only the domestic market is to be served, said market trackers. "The only headroom for growth right now is by increasing exports from India," said Prachir Singh, senior analyst, Counterpoint Research.
This means Samsung would miss out on incentives for FY22, potentially worth around Rs 900 crore. The development also implies that the company will get cashbacks for only four years instead of the five years it could have under the scheme.
Samsung is unlikely to get production-linked incentives (PLI) for smartphone manufacturing for the second year (fiscal 2022) of the scheme, after the South Korean electronics major failed to meet production targets, officials aware of the matter told ET.
Samsung is unlikely to get production-linked incentives (PLI) for smartphone manufacturing for the second year (fiscal 2022) of the scheme, after the South Korean electronics major failed to meet production targets, officials aware of the matter told ET.