FILE PHOTO: India’s Prime Minister Narendra Modi speaks to the media inside the parliament premises on the first day of the winter session in New Delhi, India, November 18, 2019. REUTERS/Altaf Hussain/File Photo
NEW DELHI (Reuters) – India launched a $6.65 billion plan on Tuesday to boost electronics manufacturing, saying it would start by offering five global smartphone makers incentives to establish or expand domestic production.
The government is offering a production-linked incentive (PLI) involving cash worth 4% to 6% of additional sales of goods made locally over five years, with 2019-2020 as the base year, technology minister Ravi Shankar Prasad told a news conference.
Names of the five companies, which would have to meet investment and sales thresholds to be eligible, were expected to be announced in the next two months, ministry officials said.
Five Indian firms would also be selected for the PLI scheme, which, along with two other related initiatives, could help India…
Source Reuters Tech News
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