'Samsung, Foxconn, Pegatron apply for PLI electronics manufacturing scheme'

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SME Times News Bureau | 01 Aug, 2020
Global mobile manufacturing giants Samsung, Foxconn and iPhone maker Pegatron have applied for the Centre's production-linked manufacturing scheme for electronics in the country, Union Telecom and IT Minister Ravi Shankar Prasad said on Saturday.

According to the Minister, India's electronic production has increased by 23 per cent.

Similarly, mobile phone manufacturing has also increased, he said.

Consequently, India now makes 33 crore mobile units yearly, according to the Minister.

He cited companies such as Samsung, Foxconn Honhai, Rising Star, Vistron, Pegatron, Lava, Dixon, Micromax, Sojo, Optmis have applied to avail the benefits under the scheme.

The Minister was speaking at a press conference on the PLI scheme here on Saturday.

He said that Centre is giving a 5 per cent incentive to both 'global and Indian companies'.

In all, the Centre has received 22 applications.

Besides, the Minister informed that companies have informed the government that they plan to produce mobile and components worth Rs 11.5 lakh crore in the next five years

Furthermore, he said that products worth Rs 7 lakh crore will be exported.

On the employment generation potential of the scheme, the Minister said that three lakh direct jobs and nine lakh indirect jobs are expected to be created.

Besides, the Minister said that 40 companies have shown interest for components manufacturing.

He said that companies from Taiwan, Israel, Austria have shown interest for components manufacturing.

He cited factors such as favourable economic and political system, labour and a huge domestic market for companies to set up manufacturing facilities here.

Consequently, he said that domestic value addition will increase.

Currently, domestic value addition is between 15-20 per cent which will is expected to reach 35-40 per cent.