New Delhi: 22 leading mobile manufacturing companies of the world like Apple, Samsung, Dixon and Lava have submitted their applications under the Indian government scheme Production Linked Incentive (PLI). As per the proposals submitted, these companies have projected manufacture of mobile handsets worth ₹11.5 trillion over the next five years. Union Minister for Information and Broadcasting, Ravishankar Prasad, claimed this would make India the manufacturing hub of the world for mobile handsets. It is reported that Apple company is planning to set up six manufacturing facilities in India, closing operations in China.
Union Minister for Information and Broadcasting noted that this scheme is intended to encourage the production of the indigenous companies, along with bringing the refuted foreign brands into the country. Ravishankar Prasad informed that this is the purpose of bringing the PLI scheme.
The target of the government is to provide impetus to mobile handset production in the country and make India the hub for mobile handset production of the world in the next five years. Ravishankar Prasad said that the companies manufacturing mobile handsets in the country would have certain concessions and benefits under the PLI scheme.
As per the scheme, proposals had been invited till 31st of July. The appeal received an excellent response. 22 companies including Apple, Samsung, Foxconn, Rising Star, Wistron and Pegatron have expressed interest in making investments. These companies have submitted proposals for manufacturing mobile handsets and their accessories worth ₹11.5 trillion in the next five years. Ravishankar Prasad claimed that this investment would create direct or indirect employment for nearly 1.2 million people.
Effects of the Coronavirus pandemic are visible in the major countries of the world. But the flow of foreign investment seems to have increased in India. International companies have made massive investments in the April to June quarter of this year.