Government may give incentives worth millions of dollars to Apple and Dell to make laptops in India
The Technology Ministry has made changes to an already existing scheme for this and has sought suggestions from the executives of electronics companies on this. Sources with knowledge of the matter said it could include incentives worth more than $500 million per company. The scheme aims to attract Apple, Dell, HP and Asus to increase or start production in the country. The government especially wants to encourage Apple to manufacture iPads in the country. The company is already assembling iPhones in India through its Taiwanese suppliers.
In a government document seen by Bloomberg News, incentives worth Rs 4,500 crore have been offered per company. However, for this, foreign companies will have to invest at least Rs 700 crore in five years in addition to the expenditure incurred till March last year. The incentives will depend on the local components procured by these companies and could be up to about 6 percent of the sales of finished products. However, this plan can be changed after consultation with the industry.
Last year, a scheme worth Rs 7,350 crore was launched to increase manufacturing and exports of IT products like laptops, tablets and personal computers in the country. However, due to low incentives, these companies did not take interest in it. Apple's new iPhone 14 will be made in India. Apple hopes to grow its business rapidly from this world's largest smartphone market after China. The company started manufacturing in India in 2017 with the iPhone SE. It is manufacturing advanced iPhone devices including iPhone SE, iPhone 12 and iPhone 13 in India. iPhone 14 has also been added to it.
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Electronics, Apple, Government, Dell, Market, Sales, Incentives, Production, Ipad, components, Laptops, Export
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