• Wednesday, August 12, 2020

Samsung, Foxconn,Pegatron,Wistron Sign Up For Modi Govt’s Scheme Aimed At Making India A global Hub

Discussion in 'Central & South Asia' started by INDIAPOSITIVE, Aug 1, 2020.

  1. INDIAPOSITIVE

    INDIAPOSITIVE SENIOR MEMBER

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    Samsung, Foxconn, Pegatron, Wistron Sign Up For Modi Govt’s PLI Scheme Aimed At Making India A Global Hub Of Electronics Manufacturing


    In a big boost to India’s ambition to emerge as global mobile manufacturing hub, over 22 companies including leading South Korean mobile device maker Samsung and Taiwanese electronic manufacturing firms Pegatron, Foxconn and Wistron - have submitted applications to the Ministry of Electronics and Information technology (MEITY) to participate in the production-linked incentive (PLI) scheme offered to global players. This was confirmed by the Union Minister for Electronics and Information Technology Ravi Shankar Prasad,at a press conference in Delhi today

    On 2 June the Minister had released detailed guidelines about the three new initiatives of the government - Production-linked incentive (PLI), Scheme for promotion of manufacturing of electronic components and semiconductors (SPECS) and Modified electronics manufacturing clusters (EMC 2.0) -aimed at increasing electronics manufacturing rapidly by 2025 and create additional 1.5-2 million new jobs in the short term.

    PLI schemes for Large Scale Electronics Manufacturing extends an incentive of 4% to 6% on incremental sales (over base year) of goods under target segments that are manufactured in India to eligible companies, for a period of five years subsequent to the base year (FY2019-20). The scheme opened for application on June 3rd and deadline for submission was July 31st . Incentives are applicable under the scheme from 01.08.2020.

    The global electronic manufacturing firms that have applied for the PLI scheme are Samsung, Foxcon Hon Hai, Rising Star, Wistron and Pegatron. Among them, 3 companies namely Foxcon Hon Hai, Wistron and Pegatron are contract manufacturers for Apple iPhones.

    Apple (37%) and Samsung (22%) together account for nearly 60% of global sales revenue of mobile phones and this scheme is expected to increase their manufacturing base manifold in the country.

    Indian companies who have applied for the scheme are Lava, Dixon Technologies, Bhagwati (Micromax), Padget Electronics, Sojo Manufacturing Services and Optiemus Electronics have applied under the scheme. These companies are expected to expand their manufacturing operations in a significant manner and grow into national champion companies in mobile phone production.

    10 companies have filed applications under the Specified Electronic Components Segment which include AT&S, Ascent Circuits, Visicon, Walsin, Sahasra, Vitesco and Neolync.

    Over the next 5 years, the scheme is expected to lead to total production of about INR 111.5 lakh crore.

    Out of the total production, companies under Mobile Phone (Invoice Value INR 15,000 and above) segment have proposed a production of over INR 9 lakh crore, The companies under Mobile Phone (Domestic Companies) segment have proposed a production of about INR 2,00,000 crore and those under Specified Electronic Components segment have proposed a production of over INR 45,000 crore.

    Union Minister Ravi Shankar Prasad said that the scheme is expected to promote exports significantly. Out of the total production of INR 11,50,000 crore in the next 5 years, more than 60% will be contributed by exports of the order of INR 7 lakh crore. The scheme will bring additional investment in electronics manufacturing to the tune of INR 11,000 crore.

    The Minister added that scheme will generate approximately 3 lakh direct employment opportunities in next 5 years along with creation of additional indirect employment of nearly 3 times the direct employment. Domestic Value Addition is expected to grow from the current 15-20% to 35-40% in case of Mobile Phones and 45-50% for electronic components.


    https://swarajyamag.com/news-brief/...dia-a-global-hub-of-electronics-manufacturing


    Apple's Taiwan Suppliers, Samsung Apply for India's Local Smartphone Scheme




    NEW DELHI — Apple Inc's Taiwan contract manufacturers Foxconn, Wistron Corp and Pegatron Corp have applied for India's $6.5 billion scheme to boost local smartphone manufacturing, the country's tech minister said on Saturday.

    South Korea's Samsung Electronics Co Ltd has also applied for the production-linked incentive (PLI) scheme, technology minister Ravi Shankar Prasad told a news conference.

    The plan offers companies cash incentives on additional sales of devices made locally over five years, with 2019-2020 as the base year.


    https://www.nytimes.com/reuters/2020/08/01/business/01reuters-india-manufacturing-smartphone.html







     
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  2. LeGenD

    LeGenD MODERATOR

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    Members are advised to refrain from trolling and flamebaiting. Thanks.
     
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  3. drumstick

    drumstick BANNED

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    Lots of companies wanted to get out of china for various reasons, chinese now a days do not have the advantages like cheap labor and all in this time.

    also chinese manufacturing is plagued by child labor, labor oppression and such news which gave negative publicity to the western media who are against china.

    On top of this, the current pandemic given good opportunity to many countries and companies to look back at the supply chain and avoid over dependence on china.

    This wont be immediate and will be a gradual process, but the loss of china will be a definite gain of south eastern countries like Vietnam, Indonesia and to a large extent India as well..

    Rivals like Japan and USA got this opportunity to start an economic warfare against china to make them pay for border belligerence, many chinese borders are facing issues because of expansionism of china and it will some day grow bigger than just border standoff...

    chinese app ban, 5G technology ban and taking out the industries out of china is just the beginning.... this war (both economic and military) has every potential to grow bigger and spread in many areas in coming days...

    This time India wont be taking a step back like earlier to reset the ties sooner... it will be a long drawn battle on all fronts.... lets see who goes back a step.
     
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  4. hualushui

    hualushui FULL MEMBER

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    China has not collapsed, some Indians are about to collapse:omghaha::omghaha::omghaha:
     
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  5. rishav

    rishav FULL MEMBER

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    This is rich coming from an Indian . Now you have successfully derailed the thread .
     
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  6. rishav

    rishav FULL MEMBER

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    This has the potential to add around 30 billion dollars of additional electronics production in the country every year for the next 5 years . More than half of which will reportedly be for exports .
     
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  7. LeGenD

    LeGenD MODERATOR

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    @drumstick

    I intervened and fixed this thread. But you threw water on my work with one flamebaiting post. And then you and your fellow complain about IQ comments and others hammering Indians. :tsk:

    All members are advised to discuss this topic in a mature way.
     
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  8. sinait

    sinait SENIOR MEMBER

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    You mean these CHILD LABOR?
    Don't look like Chinese, more like from nation WITHOUT TOILET.

    Child-Labour-Laws-In-India-300x200.jpg
    India Child Labor  92723.jpg
    .
     
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  9. drumstick

    drumstick BANNED

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    never wanted to derail this thread, i always see your threads are good to discuss and not to troll or flame baiting.... and that was never the intention.

    please let me know which part of my reply you want to edit and i'll happily do it,
    my views are very simple, if anyone wants to counter i'll be open to take that on.
     
  10. LeGenD

    LeGenD MODERATOR

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    Post # 3.

    Fix it or remove it.
     
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  11. Vikram1

    Vikram1 BANNED

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  12. Chhatrapati

    Chhatrapati BANNED

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  13. Cash GK

    Cash GK SENIOR MEMBER

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    So china is putting all its efforts to built pakistan on manufacturing bas and usa is trying put india on world map.. let see who will get succes..china and PAK as advantage on usa india relation.. PAK n china has common borders and much more common goals..
     
  14. pothead

    pothead SENIOR MEMBER

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    Samsung has moed it's last operations away from China,
    Taiwan is moving it's companies away from China,
    Japan is aggressively moving it's companies away from China,
    US is encouraging it's companies away from China,
    India has all but put unofficial economic sanctions on China...

    Of course CHina won't collapse with any of these,
    CCP on the other hand will not survive it.
     
  15. hualushui

    hualushui FULL MEMBER

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    We all know that Indians have low IQs and are easily brainwashed by news.
    Some companies leave China and it happens every day, even before the trade war.
    But the question is how many companies have left and how many new companies have arrived.
    Data, data, data, only by enumerating the two, and comparing them, we can tell whether China has collapsed.
    Let me tell you something else.
    Some Japanese medical companies have left China, but automobile and robot companies have increased their investment.
    Samsung closed a computer factory, but increased its semiconductor investment by $10 billion.
    Some American companies left, but Tesla and Exxon Mobil invested in China.
    Foxconn left China, but Taiwanese companies increased their investment by 52% in January-June 2020.
    With your IQ, can you understand this kind of thing?:omghaha::omghaha::omghaha:
    The support rate of the Communist Party of China is 93%. This is the survey just came out a few days ago. You Indians with low IQ, don’t you know?:omghaha::omghaha::omghaha:
     
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