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Factory to the World?- Business News

Photograph by Rajwant Rawat
On March 10, the $274 billion, Cupertino, California-based Apple Inc. announced it is starting production of the 5G-compatible iPhone 12 in India. It appeared like a routine announcement. After all, Apple has been assembling older generation iPhones in India through contract manufacturers since 2017. It wasn t.
It might have been a small step for Apple but was a giant leap for Indian manufacturing. India s new Production Linked Incentive (PLI) Scheme to reduce import dependence and promote local manufacturing had lured three of Apple s Taiwanese original equipment manufacturers - Foxconnn Hon Hai, Wistron and Pegatron - to pump in millions of dollars to expand Indian facilities. They will move a step up from assembling imported parts here to making or sourcing more components locally. Like Apple, about 70 firms have shown interest in availing the PLI Scheme to set up manufacturing facilities in three key sectors: mobile and electronic component ....

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PLI scheme to boost exports, cut trade deficit: Prahalathan Iyer of India Exim Bank

PLI scheme to boost exports, cut trade deficit: Prahalathan Iyer of India Exim Bank
According to India Exim Bank Research, during 2019-20, the cumulative exports from the 10 PLI sectors stood at $71.9 billion with significant untapped potential in the sectors
Nidhi Singal | March 13, 2021 | Updated 00:25 IST
An important step towards boosting investments in domestic manufacturing and cutting down import bills, the government s Production Linked Incentive (PLI) scheme will also help in enhancing overall India s competitiveness of manufacturing exports. The scheme was initially introduced for mobile and allied equipment, pharmaceutical ingredients and medical devices manufacturing, but has been now extended to several other sectors. It now covers a wide array of skill and technology-intensive sectors, including Advance Chemistry Cell (ACC) battery manufacturing, electronics (including telecom products, IT hardware, electronic components), automobile and auto components, ....

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