The scheme will extend cash incentives of 4-6% for five years on incremental sales of goods manufactured in India with 2019-2020 as the base year, Technology Minister Ravi Shankar Prasad told reportersThe international cellphone manufacturing companies that have applied under the scheme are Samsung, Rising Star and three Apple contract manufacturers — Foxconn Hon Hai, Wistron and Pegatron.
Prasad said the scheme is expected to increase Apple’s and Samsung’s manufacturing base manifold in India.
Source: Law Daily Report (lawdailyreport.net)
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