At the start of this month, India announced the names of four global firms that will be a part of its 1 billion US Dollar incentive plan that aims at producing and boosting exports of laptops, tablets, and personal computers.
According to a Reuters report, India named Dell Inc, Wistron Corp’s ICT, Flex Ltd, and Foxconn’s Rising Stars as its choice of global firms that would be a part of its IT product manufacturing boost plans. Furthermore, the local government also selected an additional ten brands as well, including smartphone makers Lava and Dixon, which manufactures TVs for Xiaomi Corp in India. The government revealed the list of firms in a statement recently.
In the plan, these manufacturers will get cash back of 1 to 4 percent of additional sales of locally made products over the course of years. These fours years would have 2019 to 2020 as the base year. So, in the next four years these brands are expected to generate around 1.61 trillion rupees (roughly 21.59 billion US Dollars) from IT hardware. Meanwhile, the efforts are also expected bring about the creation of 36,000 jobs in the region.
Notably, the plan would likely also help the Cupertino based giant, Apple, in assembling some of its iPad tablet models in India. For those unaware, new policy push in the electronics field from Indian Prime Minister Narendra Modi has led to Apple suppliers Foxconn and Wistron expanding their presence in their region. At the moment, the country is the second largest smartphone market in the world, so the efforts from the government to increase local production would also benefit the Indian economy as well.
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