• 8
  • 4
  • Favorite

India selects four global firms to boost IT products manufacturing

Reuters2021-07-02

MUMBAI, July 1 (Reuters) - India on Thursday named Dell Inc

, Wistron Corp's ICT, Flex Ltd and Foxconn's Rising Stars as its choice of global companies in a $1 billion incentive plan to produce and boost exports of laptops, tablets and personal computers.

Ten Indian companies were also selected, including smartphone maker Lava and Dixon, which makes TVs for Xiaomi Corp

in India, the government said in a statement.

Under the plan, manufacturers get cash-backs of 1% to 4% of additional sales of locally made goods over four years, with 2019-2020 as the base year.

In the next four years these companies are expected to produce 1.61 trillion rupees ($21.59 billion) of IT hardware and create more than 36,000 jobs, the government said.

The plan is also likely to help U.S. tech giant Apple Inc

assemble some of its iPad tablets in India, Reuters previously reported.

Prime Minister Narendra Modi's policy push in the electronics sector has prompted Apple suppliers Foxconn and Wistron to expand in India, and driven Pegatron Corp to set up base there.

Modi's strategy, coupled with India's huge market, have also helped turned the country into the world's second-biggest mobile maker after China.

New Delhi wants to replicate the success of smartphone manufacturing with other electronics in a bid to cut imports.

($1 = 74.5640 Indian rupees)

(Reporting by Sankalp Phartiyal and Rajendra Jadhav; Editing by Richard Chang)

((rajendra.jadhav@thomsonreuters.com; +91-22-68414378 ; Reuters Messaging: rajendra.jadhav.thomsonreuters.com@reuters.net))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment4

  • PASTEL
    ·2021-07-06
    Indian also copy China want to build hospital in 10 days. But fail miserably.. meeting to decide already 2 week
    Reply
    Report
  • lineasy2
    ·2021-07-03
    Good. It will be better for Xiaomi
    Reply
    Report
  • muscleman
    ·2021-07-02
    ?
    Reply
    Report
  • 20Rose
    ·2021-07-02
    Good read
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial