24 C
Delhi

The 16 companies including Apple contractors that have been approved by Indian Gov for PLI scheme

India will become the next big thing when it comes to smartphone manufacturing with the Indian Govt’s ‘Make in India’ initiative that has even fueled up with the border issues with China. The Indian Govt. is pushing hard brands like Samsung, Apple to invest in the country.

Also, homegrown smartphones companies like Lava, Micromax have been well appreciated to get back into the market after a prolonged run of Chinese smartphone giants like Xiaomi, Oppo, Vivo and Realme.

For quite some time rumours were flowing which companies would be granted the revolutionary PLI Scheme from the Indian Govt, now, from Reuter’s report there are a total of 16 companies that have been accepted for the scheme.

Apple contractors like Foxconn, Wistron and Pegatron will be making heavy investments in the country as the Govt has already approved their application for the scheme.

- Advertisement -TechnoSports-Ad

Although there is no official disclosure of how much investment these companies will exactly be making but Reuter’s sources say that all three companies plan to invest as much as $900 million in India in the next five years to benefit from the PLI scheme.

Samsung, who has the biggest smartphone manufacturing plant in the world in India has also got approval, India’s tech ministry confirmed in a statement. Also, five Indian companies including Lava and Micromax have got approval by the Indian Govt as well. All of these companies combined are expected to produce smartphones and components worth of 10.5 trillion rupees ($143.05 billion).

Source

- Advertisement -TechnoSports-Ad

Do check out:

😎TechnoSports-stay UPDATED😎

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.

Raunak Saha
Raunak Saha
A cs engineer by profession but foodie from heart. I am tech lover guy who has a passion for singing. Football is my love and making websites is my hobby.
TechnoSports-Ad

Popular

TechnoSports-Ad

Related Stories

More from author

BOULT Introduces Astra Neo: The Made-In-India TWS Gaming Earbuds

BOULT, one of India's fastest-expanding wearable brands, has launched its latest innovation in True Wireless Stereo (TWS) gaming earbuds - the Astra Neo. Manufactured...

Unveiling the Future of Mobile AI: Samsung Galaxy AI at Mobile World Congress 2024

As the Mobile World Congress 2024 kicks off in Barcelona, Spain, Samsung Electronics Co., Ltd. is poised to unveil new and exciting mobile experiences...

Top 10 Most Popular Chocolate Brands in India

The Top 10 Most Popular Chocolate Brands in India - Everything You Need to Know Chocolate indulgence is a universal passion, and in India, it's...

Who is Selena Gomez’s new boyfriend? Know About Benny Blanco in 2024

The world of entertainment is always filled with surprises, and one such surprise has left fans worldwide buzzing: Selena Gomez's new boyfriend, Benny Blanco....