Global firms expand production in India after govt woos investors with PLI scheme
Buoyed by the surge in interest from global manufacturers, the government is also planning PLI for other sectors to boost domestic manufacturing of wearable devices such as smartwatches
PTI | April 5, 2021 | Updated 22:05 IST
The PLI schemes will help India export electronic/IT goods worth Rs 2.45 trillion a year
Leading international companies are expanding production at their newly setup units in India after the government launched attractive initiatives such as the production-linked incentive (PLI) scheme for smartphones and other technology-driven sectors, Girija Pande, chairman of Apex Avalon Consultancy, said on Monday.
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Xiaomi entry adds spice to e-car sector By MA SI/LI FUSHENG | China Daily | Updated: 2021-04-01 09:06 Share CLOSE The logo of Xiaomi is seen inside the company s office in Bengaluru, India, on Jan 18, 2018. [Photo/Agencies]
Xiaomi Corp s decision to foray into the electric car business will further intensify competition in the booming sector, and it remains to be seen how the Chinese smartphone company will leverage its research and development strength to explore a completely new area, experts said.
Their comments came after Lei Jun, chairman of Xiaomi, said the company will set up a wholly owned unit for the smart electric vehicle business, with an initial investment of 10 billion yuan ($1.52 billion). The total investment over the next decade is estimated to be $10 billion.