Apple, Samsung, etc. to set up plants in India: Reports

On Tuesday, Union IT Minister Ravi Shankar Prasad announced three schemes worth Rs 50,000 Cr for the “development of electronics manufacturing sector”.  They have already come into force.  Production Linked Incentive Scheme, Component Manufacturing Scheme, and Modified Electronics Manufacturing Clusters Scheme are the names.

The news is that the first of these schemes, that is, the PLI scheme, has reportedly enthused more than five manufacturing companies to set up units in India.  As per an Economic Times report, Apple, Samsung, Oppo, Vivo, Xiaomi, Foxconn, Wistron and Flex had shown interest in applying for the major scheme.  Under the scheme, the manufacturers will receive loans to the tune of Rs 40,951 Cr.

The PLI scheme for large-scale Electronics manufacturing admittedly aspires to achieve “high-level of employment, and a trusted system of value chain, not just in India but globally.”  Elaborating on the same, Ravi Shankar Prasad said, “Self-reliant India is not an India of isolation or not an inward-looking country. It is an India that enhances its capacity and develops a strong ecosystem as well as a robust supply chain linked with the global economy.”