Thursday, June 4, 2020
About seven global and Indian companies are expected to seek benefits under the Centre’s production-linked incentive (PLI) scheme, aimed at making India a global hub for mobile device exports. Under the scheme, which was formally announced on Tuesday, prospective companies have to apply by July 31.
The government will offer the scheme to five global and domestic entities. However, if there are more than five applications, eligibility will be decided by the ranking of companies based on their global consolidated revenues in the base year.
According to sources, global players that are likely to apply for the scheme include Foxconn, Wistron (both of which manufacture mobile devices for Apple), South Korean major Samsung, and US’s electronic manufacturing services giant Flextronics. Lava International and Micromax are among the home-grown players.
