Govt to woo foreign firms like Apple to capitalise on US-China trade war

New Delhi: Government is targeting companies including Apple, Foxconn and Wistron Corp with a charm offensive aimed at encouraging them to shift business out of trade war-hit China, according to a source and a document seen by Reuters.

Several Indian officials met on August 14 and discussed a list of “target companies” that also include Taiwan-headquartered contract manufacturer Pegatron Corp, a source with direct knowledge said.

The dispute between the United States and China, the world’s two largest economies, has led to higher tariffs on goods worth billions of dollars and disrupted global supply chains, prompting companies to look at other investment avenues to escape higher tariffs.