Under the Production-Linked Incentive (PLI) scheme for the Large-Scale Electronics Manufacturing (LSEM) sector, the government granted incentives for two companies to engage in mobile manufacturing.
The committee, led by Niti Aayog CEO Param Iyer, has awarded incentives totaling 58.29 crore and 357.17 crore to Padget Electronics and Foxconn India, respectively.
For Foxconn India, around 357 crore under the PLI scheme had been granted. Based on its additional investments and sales, the company will be given an incentive under mobile manufacturing for the period from 1 August 2021 to 31 March 2022.
The first international company to receive approval under the category of mobile phone manufacturing was the Indian division of a prominent Taiwanese electronics manufacturer.
