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Wipro 395.75↑9.55(2.47%)

Samsung, Lava among 16 firms approved for PLI plan for phone manufacturing

Lava, Bhagwati (Micromax), Padget Electronics, UTL Neolyncs and Optiemus Electronics are among the Indian companies approved

mobile, smartphone, manufacturing, production, phone, PLI scheme

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Samsung, Foxconn Hon Hai, Rising Star, Wistron and Pegatron are among international companies approved under the mobile phone segment.

2 min read Last Updated : Oct 06 2020 | 9:06 PM IST

The government on Tuesday approved 16 companies under a Production Linked Incentive Scheme (PLI) for electronics manufacturing, announcing an incentive of 4 per cent to 6 per cent on incremental sales of goods under target segments that are manufactured in India for a period of five years.

Samsung, Foxconn Hon Hai, Rising Star, Wistron and Pegatron are among international companies approved under the mobile phone segment. Foxconn Hon Hai, Wistron and Pegatron are contract manufacturers for Apple iPhones. Apple and Samsung together account for nearly 60 per cent of global sales revenue of mobile phones and this scheme is expected to increase their manufacturing base manifold in India, said a press release by Ministry of Electronics & IT.

Lava, Bhagwati (Micromax), Padget Electronics, UTL Neolyncs and Optiemus Electronics are among the Indian companies approved for the mobile phone segment. These companies are expected to expand their manufacturing o