Samsung, LG, iPhone maker Pegatron may pump in $1 billion each to make in India under Modi’s scheme

Six global electronics equipment manufacturers including Samsung, LG, and Apple’s iPhone manufacturing partner Pegatron are eyeing India to ramp up their presence under Prime Minister Narendra Modi government’s Production-Linked Incentive (PLI) scheme. These firms are in the final stages of discussion with the Electronics and IT Ministry (MeitY), and have a special three-day window to finalize the deal under which they will be able to either set up new units or expand the existing ones, The Indian Express reported citing unnamed government officials. “The talks are in the final stages. Most of these deals will for now be in the sub $1-billion (roughly Rs 7,500 crore) range for now. More applications could come in before July 31,” an official said.

The government had advertised the PLI scheme in April and the six companies have approached the government to avail benefits of the scheme, the newspaper cited senior government officials as saying. Other than Samsung and Pegatron, Singapore-based Flextronics, which is now known as Flex, has also reached out to the government as it looks to expand its Chennai unit. Flex currently operates 10 other units in India, in addition to the one in Chennai. LG has also shown interest in the scheme.