Lava, Bhagwati (Micromax), Padget Electronics, UTL Neolyncs and Optiemus Electronics are among the Indian companies approved
Samsung Lava, Dixon and iPhone contract manufacturer looks to produce mobile devices and components worth over Rs 11 trillion in the next five years
"Foreign companies that have submitted proposals for the scheme include Samsung, Foxconn Hon Hai, Rising Star, Wistron and Pegatron," the source said
While the leading brands continued to gain share, fringe players had to bear the brunt of supply chain constraints and growing anti-China sentiments to some extent
The government will offer the scheme to five global and domestic entities.
The phone is priced at Rs 2,000 and will be available in black and gun metal colour variants across national retail stores and multi-brand outlets
Lava's revenues in Telangana and AP grew 104 per cent in 2015 over 2014
The company is looking to dilute equity stake to strategic partners