August 1, 2020 / 8:30 AM / 10 days ago

Apple's Taiwan suppliers, Samsung apply for India's local smartphone scheme

NEW DELHI, Aug 1 (Reuters) - Apple Inc’s Taiwan contract manufacturers Foxconn, Wistron Corp and Pegatron Corp have applied for India’s $6.5 billion scheme to boost local smartphone manufacturing, the country’s tech minister said on Saturday.

South Korea’s Samsung Electronics Co Ltd has also applied for the production-linked incentive (PLI) scheme, technology minister Ravi Shankar Prasad told a news conference.

The plan offers companies cash incentives on additional sales of devices made locally over five years, with 2019-2020 as the base year. (Reporting by Sankalp Phartiyal; Editing by Kim Coghill)

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