Today in India, the implementation of the plan began, the purpose of which is to stimulate the production of electronics in this country. In particular, the state intends to offer material incentives to five global smartphone manufacturers to create or expand production in India. In general, the plan is estimated at 6.65 billion dollars.
Over the next five years, the government is prepared to pay remuneration proportional to output in India. It is about 4-6% of the total sales. The names of companies that will have to fulfill certain conditions for the volume of investments and sales in order to qualify for participation in the program will be named within the next two months.
Five Indian firms will also be selected. It is expected that this and two other related initiatives will help to increase the production of smartphones and components for them by 2025 to $ 133 billion.
Recently news
India bans TikTok, WeChat, and about 60 other apps
The application to remove Chinese programs from a smartphone has become a hit
Xiaomi has raised the prices of its smartphones in the most important market for the company
India was closed for total quarantine. New smartphones linger
India has become the second largest smartphone market in the world, moving the USA to third place
Xiaomi wants to make India a global manufacturing center