Foxconn, Padget receive Rs 415 crore incentives under mobile phone PLI

The government on Tuesday approved incentives worth `415.5 crore to Foxconn Hon Hai Technology and Dixon Technologies owned Padget Technologies for meeting incremental sales and investment targets under the mobile phone production-linked incentive (PLI) scheme for FY22.

Amongst the global players who participated in the PLI scheme, Foxconn has become the first company to have received the approval for the incentives. The company, which is one of the contract manufacturers of iPhones in the country, will receive incentives worth `357.17 crore for August 2021– March 2022 period.

Amongst the domestic companies, Padget has got approval for incentives worth `58.29 crore for the January-March 2022 quarter. Earlier, Padget had received incentives worth `53.28 crore for August-December 2021 period.