Zoom News : Dec 21, 2022, 09:27 AM
Modi Government: The Modi government at the Center is preparing to give a direct competition to China with its 'Make in India' mission. The government has approved an amount of Rs 357.17 crore to Apple's supplier Foxconn India under the Production Linked Incentive (PLI) scheme for mobile phones. Taiwan's company Foxconn is the first foreign company that the government has approved such a huge amount under the PLI scheme.Let us tell you that amidst the increasing cases of Corona in China and the zero covid policy of the government there, the world's largest smartphone company Apple's plant is going through a crisis. There are also reports of work stoppage and labor movement in the plant. This is causing direct loss to Foxconn and Apple. In such a situation, these companies are trying to make their base outside China. In such a situation, this step of the Government of India seems to be as effective as striking a hot iron.For the first time, the benefit of PLI to a foreign companyThe government has approved Rs 357.17 crore to Apple's supplier Foxconn India under the Production Linked Incentive (PLI) scheme for mobile phones. Along with this, an amount of Rs 58.29 crore has been approved for Padgett Electronics, a subsidiary of Dixon Technologies. This is the first time that the government has approved an incentive scheme for a global electronics manufacturing company in the country. NITI Aayog gave this information in a statement on Tuesday.Investment of Rs 4,784 crore came under PLIFoxconn India is a Taiwanese multinational electronics contract manufacturer. Its headquarters is in New Taipei City. An investment of Rs 4,784 crore has been attracted under the PLI scheme for large scale electronics manufacturing (LSEM) till September 2022. This has resulted in production of Rs 2,03,952 crore including exports of Rs 80,769 crore.