As most people know, almost everything is made in China but that could change in the future. Just recently, 16 companies have gotten formal approvals by the Indian Government to start local manufacture of consumer electronics. Among the 16 companies, both Apple and Samsung are included and this initiative is part of the $6.65 billion production-linked incentive (PLI) scheme to increase exports over the 5 years.
So who are the other 14 companies? From the source, it seems that OPPO, vivo, realme and OnePlus are also involved. Besides these Chinese tech companies, other groups from India namely Lava, Micromax (Bhagwati), Padget Electronics, UTL Neolyncs, and Optiemus Electronics are also part of the initiative. It is estimated that the manufactured smartphones and other tech components by these companies would be worth more than $143 billion in the next five years.
In case you're wondering what's up with the PLI scheme, it's a plan to boost India's manufacturing business. The scheme would export 60% locally made products and the companies involved would gain between 4% - 6% additional sales of goods manufactured locally during the five years.
Are you ready to see your phone "Made in India"? Stay tuned for more trending tech news at TechNave.com.
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