Samsung may lose PLI scheme incentives for 1st yr due to invoicing issues

Samsung Electronics may have to do without sops for its first year of production-linked incentive (PLI) scheme in India, reported Economic Times (ET) citing government sources.

The Korean major may lose the initial incentives from the PLI scheme for smartphone manufacturing in India, It is due to some discrepancies in invoicing.

However, Samsung said that it is in advanced discussions with the Centre to resolve the issue.

In 2021, the electronics major had claimed a sum of Rs 900 crores as incentive for completing Rs 15,000 crore worth of additional sales than the previous year.