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  4. Apple to Samsung: About 2 dozen companies to invest big in India as part of manufacturing shift from China

Apple to Samsung: About 2 dozen companies to invest big in India as part of manufacturing shift from China

Facing a negative global perception amid pandemic, technology companies are mulling options to relocate production, manufacturing units to south Asian nations and what seems to work for India is its incentive-driven scheme that is attracting major players including Samsung, Apple, others.

India TV Business Desk Edited by: India TV Business Desk
New Delhi Updated on: August 17, 2020 17:51 IST
Smartphone manufacturing, Mobile phone manufacturing, Apple, Samsung, Foxconn
Image Source : AP

Engineers from Samsung Display are using testing devices to inspect frequency changes in display panels that feature adaptive frequency technology.

Facing a negative global perception amid coronavirus pandemic, a lot of technology companies are mulling options to relocate production, manufacturing units to south Asian nations and what seems to work for India is its incentive-driven scheme that is attracting major players including Samsung, Apple Inc, others.

Several big names namely iPhone Apple, Samsung, Foxconn, Wistron Corp., Pegatron Corp among others have shown interest in investing more in India. Together about two dozen companies have pledged to invest $ 1.5 billion to set up mobile phone manufacturing units in India, after an incentive-based scheme.

Under this scheme, financial incentive shall be given to selected companies at the rate of 5 per cent of incremental sales of goods manufactured in India and covered under target segments, for a period of five 5 years — from Financial Year 2021-2022 to Financial Year  2025-2026.

A couple of days ago, Foxconn Co-CEO has said that China's time of being the world's factory was over as companies were looking to shift out, be it in SouthEast Asian nations or United States.

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