Apple top three contract suppliers of expensive mobile phone manufacturers will invest Rs 6500 crore in the country. This investment will happen in the next five years. The investment will be under the new Production Linked Incentive scheme.
Apple top contract suppliers are Faxcans, Vistrans and Pegtrans. All these companies will jointly invest under the PLI scheme. It is a cash incentive scheme that will be found to increase the sales of any locally made smartphone. The plan aims to turn India into a manufacturing hub for export.