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Friday, March 29 2024
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Make-In-India Plan gets a boost with 16 Mobile Phone Manufacturers getting approval

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New Delhi: 16 companies have received the Centre’s approval to manufacture products in India under a plan aimed at attracting investment of more than ? 10.5 trillion ($143 billion) for mobile-phone production over the next five years.

Apple’s primary suppliers — Foxconn Technology Group, Wistron Corp, Pegatron Corp — and Samsung Electronics Co were among a list of global firms that were cleared by the Centre.

Local manufacturers Lava, Padget Electronics Pvt, UTL Neolyncs and Optiemus Electronics Ltd were also approved under the plan.

About 60% of the total production, or ? 6.5 trillion, is expected to be exported in the next five years, it said.

This is part of India’s Atmanirbhar plan – make locally but export globally that took shape following clashes with China along the disputed Himalayan border earlier this year.

India is seeking to woo companies looking to diversify their manufacturing bases away from China, as a growing global trade war and the COVID-19 pandemic have focused minds on the risks to supply chains.

 

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