Govt clears Rs 357-cr sop for Foxconn India unit under PLI scheme

New Delhi: The government has cleared incentives worth Rs 357.17 crore for a Foxconn unit, which will become the first global company to receive sops under India’s ambitious production-linked incentive (PLI) scheme for mobile manufacturing.

“Foxconn Hon Hai Technology India Mega Development Pvt. Ltd is the first global company that has been approved under the target segment ‘Mobile Phones’ (Category: Invoice Value Rs 15,000 and Above) to receive incentive under mobile manufacturing for the period 1 August 2021–31 March 2022 based on its incremental investments and sales figures,” the government said in a statement Tuesday.