India approves 16 companies, including top Apple suppliers, for Rs 10.5 lakh crore smartphone plan

Government has cleared 16 proposals from domestic & international cos entailing investment of Rs 11,000 crore under the production linked incentive (PLI) scheme to manufacture mobile phones worth Rs 10.5 lakh crore in next five years. The companies include Apple’s contract manufacturers Foxconn Hon Hai, Wistron and Pegatron, apart from Samsung and Rising Star.

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