India's new $6.65 billion production-linked incentive (PLI) scheme offers companies cash incentives on any increase in sales of locally-made smartphones over the next five years, compared with 2019-20 levels. Foxconn has applied to invest about ₹4,000 crore ($542 million), while Wistron and Pegatron have committed to invest close to ₹1300 crore and ₹1200 crore, respectively, under the PLI plan, the sources said. Apple, Wistron, Pegatron and India's technology ministry, which formulated the PLI scheme, did not respond to emails seeking comment. While Foxconn, Pegatron and Wistron make devices for companies other than Apple globally, Wistron's arm in India currently assembles only iPhones. Apple started assembling in 2017 a low-cost iPhone model in India through Wistron's local unit in the tech hub of Bengaluru.

Source: Mint September 28, 2020 12:00 UTC