The government is constantly making decisions towards making India and the country a manufacturing hub and its impact are beginning to be seen. Electronics and Information Technology Minister Ravi Shankar Prasad said 22 companies from all over the world have applied under the Production Linked Incentive Scheme.
12 Lakh Jobs will be Created
Prasad said that these companies will make 11.5 lakh crore mobile phones and components in the next five years. Out of this, a product of 7 lakh crores will be exported. He said that these companies will also create 3 lakhs of direct and about 9 lakh indirect jobs.
Investment of 11 Thousand Crores
According to the information, companies like Pegatron, Samsung, Apple’s second-largest contract manufacturer, have applied for this scheme. These companies have promised a huge investment of 11 thousand crores in the coming time.
This Scheme Worth is 41 Thousand Crores
To make India a smartphone export hub, the Modi government has launched a Production Linked Incentive Scheme. The budget of this scheme is 41 thousand crores and the aim of the government is to attract big companies of the world to invest in India through it.
These are Foreign Companies
The source said that foreign companies submitting proposals under the scheme include Samsung, Foxconn Hon Hei, Rising Star, Wistron and Pegatron. Foxconn produces Apple iPhones on Hon Hee, Wistron and Pegatron contracts.
2 Lakh Mobile Sets of less than 15 Thousand will be Made
Taiwan’s Pegatron is the new investor in India. Apple and Samsung account for about 60 percent of the global mobile phone sales business. “According to the proposals, about nine lakh crore rupees of mobile handsets worth more than Rs 15,000 will be produced in the next five years. At the same time, mobile handsets worth Rs 2 lakh crore will be produced below Rs 15,000.
These are Indian Companies
The source said the proposed production capabilities would also meet export demand of about seven lakh crore rupees. Indian companies applying under the scheme include Lava, Dixon Technologies, Micromax and Pazet Electronics. Under the scheme, Lava intends to invest Rs 800 crore over the next five years.