apple: Two Apple suppliers in India get manufacturing incentives

Two Apple suppliers in india – Foxconn and Wistron – have been selected to receive the production incentives under the production-related incentive plan (PLI), says a report by 9To5Mac. The two companies were also eligible for cashback deals if they helped boost production in India. The incentives will most likely be used for the production of iPads in the country. The PLI scheme was approved by the government in February this year for tablets and laptops. It is intended to reward the companies with incentives depending on the amount of production of units.
Apple has been seeking financial incentives from India for the iPhone since 2016, most of which were denied by the government at the time, after which the company went ahead with its plan to build the iPhone. iPhone SO. Apple has been allowed to import the iPhone components into the country without having to pay import duties. The tech giant wants to reduce its dependence on China for the assembly of its products and spread more in other countries, of which India is one of the most important.
Apart from Foxconn and Wistron, India chose Dell and Flex Ltd to create and boost the export of laptops, tablets and PCs. According to a Reuters report, manufacturers “will receive 1% to 4% cashback from the additional sales of locally made goods within four years, with 2019-2020 being the base year”.
The Apple suppliers may not have gotten the incentive for the iPhones, but getting the green signal from the government on tablets and laptops bodes well for the tech giant.

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