Apple phones set up in India: An unnamed vendor has submitted an entry to open 6 production lines of apple here in Tamil Nadu, India. The Taiwanese giant Foxconn is transferring the production line from china due to the coronavirus and the trade war with the US, also to reduce dependence on China.
This transfer may reduce the cost of iPhones, currently one of the most expensive phones. The company plans to manufacture $5 billion worth of iPhones to supply worldwide.
Apple phones set up in India Last month Foxconn announced that iPhone 11 will be manufactured in Chennai along with the iPhone XR and original SE. If everything goes well they will also manufacture iMac, MacBooks, and iPads in the coming years.
IT minister Ravi Shankar Prasad told times of India that 22 companies have submitted entries for production linked incentive scheme (PLI), both national and international. This PLI has been coined by the government to not only boost the manufacturing in our own country but also to reduce imports.
To make India a hub for exports. It is for a tenure of 5 years. Chinese companies like Vivo or oppo did not apply. The clash between Indian and Chinese soldiers on the border led to this ban on Chinese products in India.
Companies like Samsung, lava, Dixon, Foxconn, Karbonn, Micromax, Rising star, and hon hai precision have filled the entries. The government will soon determine 5 international and 5 national tech giants. As per minister RS Prasad, this will create 3 lakh direct jobs and approximately 9 lakh indirect jobs.
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Foxconn alone is estimating more than 50000 employment in a year. These companies will produce mobile phones & components in India worth Rs 11.5 lakh crores in the coming 5 yrs out of which products worth Rs 7 lakh crores will be exported: Union Minister RS Prasad. An empowered committee consisting of senior officers and secretaries of IT, economic affair along with director general of foreign trade will overview the proposals by different companies.