5 global smartphone makers will be given incentives to establish, expand domestic production. FMTNews India
NEW DELHI: India launched a US$6.65 billion plan on Tuesday to boost electronics manufacturing, saying it would start by offering five global smartphone makers incentives to establish or expand domestic production.
Names of the five companies, which would have to meet investment and sales thresholds to be eligible, were expected to be announced in the next two months, ministry officials said. The smartphone industry has become a showpiece for Prime Minister Narendra Modi’s ‘Make In India’ drive. The government now wants to make the country an export hub.
The new plan also includes schemes to drive up production of components and create manufacturing clusters with pre-built factory sheds and common facilities for companies to move in immediately.
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