Apple’s Taiwan suppliers, Samsung apply for India’s local smartphone scheme

NEW DELHI (Reuters) – Apple Inc’s Taiwan contract manufacturers Foxconn <2317.TW>, Wistron Corp <3231.TW> and Pegatron Corp <4938.TW> have applied for India’s $6.5 billion scheme to boost local smartphone manufacturing, the country’s tech minister said on Saturday.

South Korea’s Samsung Electronics Co Ltd <005930.KS> has also applied for the production-linked incentive (PLI) scheme, technology minister Ravi Shankar Prasad told a news conference.

The plan offers companies cash incentives on additional sales of devices made locally over five years, with 2019-2020 as the base year.

(Reporting by Sankalp Phartiyal; Editing by Kim Coghill)