India proposes incentives to woo Apple, Samsung suppliers

India is considering a plan to offer subsidised loans to mobile handset manufacturers in a bid to attract Apple Inc and Samsung Electronics Co’s suppliers to open factories in the nation, said a Government official.

The proposals by the Ministry of Electronics and Information Technology includes offering interest subsidy on local borrowing by manufacturers, may form part of the federal budget to be unveiled on February 1, the official said, asking not to be identified citing rules on speaking to the media. It also includes setting up of industrial zones equipped with taxation and customs clearance, along with infrastructure such as roads, power and water supply, the official said.

India plans to make $190 billion worth of mobile phones by 2025 from $24 billion now, the official said.