On Thursday, India named Dell, Wistron’s ICT, Flex and Foxconn’s Rising Stars as its choice of global companies in a $ 1 billion (approximately 7,470 crore) stimulus plan to manufacture and increase exports of laptops, tablets and PCs.
According to the plan, producers receive money from 1 to 4 percent of additional sales of locally produced goods for four years, with the base year being 2019-2020.
Over the next four years, these companies are expected to produce Rs. 1.61,000 crore IT hardware and create more than 36,000 jobs, the government said.
Modi’s strategy, combined with the huge Indian market, has also helped make the country the world’s second-largest mobile maker after China.
New Delhi wants to repeat the success of the production of smartphones with other electronics in an attempt to reduce imports.
© Thomson Reuters 2021