Samsung chooses FY21 as first year to avail 6% PLI incentives

New Delhi: Samsung Electronics, the only company to achieve production target for the handset production-linked incentive (PLI) scheme, has chosen FY20-21 as its first year to avail the 6% incentive, a person familiar with the matter said.

“Samsung will take its incentives for the first year – FY20-21. It did all the hard work and met its targets,” the person said.

The choice means that while the rest 15 manufacturers including iPhone makers Foxconn, Wistron etc. will produce incremental goods worth Rs 4000 crore in the current fiscal which started on April 1, Samsung will need to manufacture double of that in a year marred by the Covid second wave and an anticipated third wave, to avail of the second year’s incentives, say industry experts.