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INDIA

Apple Suppliers Commit to Invest $900 Million in India

The three manufacturers and suppliers of Apple Foxconn, Wistron and Pegatron have committed to invest $900 million in India over 5 years, according to the Reuters report. According to the report, Foxconn is planning to invest Rs 4,000 crore, Wistron to Rs 1,300 crore and Pegatron to Rs 1,200 crore in the country. The investments made by the manufacturers will add more capacities and ramp up the domestic production of Apple’s mobile phone and other mobile phone brands, according to two industry executives.

Foxconn, Wistron and Pegatron are amongst the 22 companies which had applied for the Indian government’s Production-Linked Incentive (PLI) scheme. Under these schemes, mobile and electronic devices manufacturers will be offered a 4% to 6% incentive and foreign manufacturers are eligible for the scheme only for the devices with an invoice value of more than Rs 15,000. Indian electronic manufacturer firms like Lava, Dixon and Padget Electronics are also building capacities for taking advantage of the PLI scheme.

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