Apple contract manufacturer Pegatron okays Rs 1,100 crore investment for India unit

Apple’s contract manufacturer Pegatron Corporation’s board of directors has approved an investment of Rs 1099.8 crore in India through its wholly-owned subsidiary Pegatron Technology India Private, the filings made by the company with the Taiwan Stock Exchange showed.

Pegatron Corp, the parent company, will put in the funds raised fully through its internal resources as part of its “long term investment”, the company said, without elaborating what those plans were. The company is one of three major assembly partners of Apple, along with Foxconn Technology Group and Wistron Corporation.

Its Indian subsidiary, Pegatron Technology India incorporated in July this year, is among the 16 global and Indian mobile handset makers given the government go ahead to in October this year to start manufacturing under the Production Linked Incentive (PLI) scheme.