35.1 C
Delhi

Indian Government selects 14 companies to boost IT Products production

Indian Government on Thursday named Dell Inc, Wistron Corp’s ICT, Flex Ltd and Foxconn’s Rising Stars as its choice of global companies in a $1 billion incentive plan to produce and boost exports of laptops, tablets and personal computers.

Ten domestic companies were also selected, including smartphone maker Lava and Dixon, which makes TVs for Xiaomi Corp in India, the Indian government said in a statement. Under the category of Domestic Companies, 10 companies namely Lava International Limited, Dixon Technologies (India) Limited, Infopower Technologies (JV of Sahasra and MiTAC), Bhagwati (Micromax) Neolync, Optiemus, Netweb, Smile Electronics, VVDN and Panache Digilife have been approved.

Under the plan, manufacturers get cash-backs of 1% to 4% of additional sales of locally made goods over four years, with 2019-2020 as the base year. In the next four years these companies are expected to produce Rs 1.61 lakh crore ($21.59 billion) of IT hardware, the government said. The scheme will generate additional direct employment opportunities of more than 36,000 in the next 4 years along with the creation of additional indirect employment of nearly 3 times the direct employment. Domestic Value Addition is expected to grow from the current 10-15% to 25-30%, the Indian government further stated.

As reported by Reuters, the plan could see Apple benefit from the announcement — it was previously suggested that iPad production in the country could be boosted in particular.

- Advertisement -TechnoSports-Ad

Prime Minister Narendra Modi’s policy push in the electronics sector has prompted Apple suppliers Foxconn and Wistron to expand in India and driven Pegatron Corp to set up a base there.

Wistron in particular found itself in headlines for the wrong reasons not too long ago. An iPhone manufacturing plant in the country was forced to close after a riot over unpaid wages. The facility was closed for three months, impacting global iPhone production. The same company has also been on the receiving end of trade union ire overworking violations as recently as December 2020.

Also Read:

- Advertisement -TechnoSports-Ad

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Astitva Patle
Astitva Patle
Content writer with have a experience of more than 1 and a half year in this field. If you like my content and wanna give me opportunity then please contact at [email protected]
TechnoSports-Ad

Popular

TechnoSports-Ad

Related Stories

More from author

iQOO 9 series could come in India in Q1 2021 with Snapdragon 8 Gen 1

iQOO the Vivo’s sub-brand has unveiled the iQOO 8 and iQOO 8 Pro smartphones in China in the month of August this year. Both...

Apple Music 2021 Top Charts are here: Check all the highlights

Apple Music Top 100 charts 2021 list is in front of us. BTS's Dynamite band from South Korea is the most-streamed song in 2021...

Samsung dominates the Global Foldable smartphone market with 93% Share

The global foldable phone market seems to have reached new heights in Q3 2021, at the same time when Samsung unveiled the Galaxy Z Fold...

Xiaomi 12 will be the first smartphone powered by Snapdragon 8 Gen 1

Xiaomi is working on its new flagship device and it can be anticipated to launch in December during a launch event. The Xiaomi 12 and Xiaomi 12X flagship handsets will be launched in China first and also it'll make its debut in other requests. In a recent tweet,...