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Photograph by Rajwant Rawat
On March 10, the $274 billion, Cupertino, California-based Apple Inc. announced it is starting production of the 5G-compatible iPhone 12 in India. It appeared like a routine announcement. After all, Apple has been assembling older generation iPhones in India through contract manufacturers since 2017. It wasn t.
It might have been a small step for Apple but was a giant leap for Indian manufacturing. India s new Production Linked Incentive (PLI) Scheme to reduce import dependence and promote local manufacturing had lured three of Apple s Taiwanese original equipment manufacturers - Foxconnn Hon Hai, Wistron and Pegatron - to pump in millions of dollars to expand Indian facilities. They will move a step up from assembling imported parts here to making or sourcing more components locally. Like Apple, about 70 firms have shown interest in availing the PLI Scheme to set up manufacturing facilities in three key sectors: mobile and electronic components; pharma
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Ministry of Communications stated today that Telecom manufacturing is set to get a boost with outlay of Rs 12195 Crores over 5 years leading to enhanced production of more than Rs 2.4 Lakh Crores. Pursuant to the extraordinary incentive of PLI being provided by Government of India in various sectors, the Cabinet today has approved the Production Linked Incentive (PLI) Scheme for Telecom and Networking Products. This approval comes in wake of very encouraging success of PLI related to Mobile and component manufacturing, which was announced in April 2020 during the height of Covid pandemic.
In spite of 31st July 2020 being the last date for applying, it received a resounding response. All major mobile component manufacturers of world are expanding their powerful footprints in India by making investments, starting exports and giving jobs to thousands of Indians. Today s Cabinet decision addresses another component of Atmanirbhar Bharat to make India a global hub of manufacturing telec
Govt approves PLI scheme of over Rs 12000 crore for telecom batonrougepost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from batonrougepost.com Daily Mail and Mail on Sunday newspapers.