iPhone maker Foxconn’s India unit gets Rs 357-crore incentive boost

The India unit of Foxconn, the world’s-largest electronic tech manufacturer, is set to become the first global company to receive sops under India’s production-linked incentive (PLI) scheme for mobile manufacturing. In a major milestone today, the Empowered Committee headed by CEO, NITI Aayog, approved incentives for two companies—one a domestic company and the other a global company -— for mobile manufacturing under the Production-Linked Incentive (PLI) scheme for the Large-Scale Electronics Manufacturing (LSEM) sector. These companies are Foxconn and Padget Electronics Pvt Ltd.

What is PLI scheme
The PLI scheme is built on the foundation of the 14 sectors’ strengths, their production capabilities, and drive to become global champions.