Govt to clear Samsung’s bill; will pay Rs 500 crore incentive against Rs 900 crore claimed

After being stuck for around two years, Samsung India will soon receive around Rs 500 crore as incentive for FY21 under the smartphone production-linked incentive (PLI) scheme, official sources said.

Sources said that though the company had claimed incentive of around Rs 900 crore, after reconciling the invoices, it has been found that it’s entitled for payment of around Rs 500 crore. “The matter has now been settled. The company will be getting around Rs 500 crore,” an official requesting anonymity said.

When contacted a Samsung India spokesperson said, “We are currently in advanced stage of discussions with government of India on the incentive payout.