Apple’s top cable supplier to start mass production in India soon

Cheng Uei Precision Industry Co, a Taiwan-based cable and connector maker, will start mass production for Apple Inc. later this year from its new plant in India, according a report by Bloomberg. Foxconn Technology Group, Pegatron Corp. and Wistron Corp, Apple’s major assembly partners have set up either a subsidiary or an iPhone assembly plant in India. They plan to invest a total of almost $900 million in India in the next five years to tap into a new production-linked incentive plan, according a report by Reuters.

India’s new ₹665 crore production-linked incentive (PLI) scheme offers companies cash incentives on any increase in sales of locally-made smartphones over the next five years, compared with 2019-20 levels. The scheme aims to help transform India into an export manufacturing hub.

Foxconn has applied to invest about ₹4,000 crore, while Wistron and Pegatron have committed to invest close to ₹1300 crore and ₹1200 crore, respectively, under the PLI plan, according to reports.