Apple will not apply for the production-linked incentive (PLI) scheme 2.0 for laptops and computer hardware, a report by The Hindu Businessline cited sources aware of the development. The Centre launched the scheme recently with a budgetary allocation of Rs 17,000 crore aiming to convince companies like Dell, Samsung and Apple to manufacture IT hardware in India.
The Cupertino-based tech giant is currently aiming to only localise mobile and accessories manufacturing in India, the report added. It also said that the Ministry of Electronics and Information Technology (Meity) is aware of the development.
On May 19, minister of state for technology Rajeev Chandrasekhar told Bloomberg that Apple and Samsung are among the companies interested in increasing electronics production in India.
Apple has benefitted from the first PLI scheme for producing iPhones and Apple accessories in the country. However, the company is looking to increase the production of laptops in Vietnam instead of India. It is expected to start making MacBooks there by mid-2023.
It can also benefit India as under the India-Vietnam free trade agreement, laptops assembled in Vietnam will be sold in India without customs duties.
For Apple smartphones, Foxconn will start manufacturing iPhones in Karnataka by April 2024.
Govt clears Rs 357 cr for Foxconn under PLI scheme for phone manufacturing
Green hydrogen manufacturing to come under PLI scheme: R K Singh
Centre likely to discontinue second phase of Fame-II scheme after FY24
Ahead of Saket store launch, Apple CEO Tim Cook to meet PM Modi today
Powered by PLI, India may add 150,000 new jobs in phone manufacturing
Info Edge initiates forensic audit in Rahul Yadav's start-up 4B Networks
IL&FS pays Rs 28.8k cr debt by FY23; debt resolution target at Rs 61K cr
Govt in talks with US-based Micron Technology for semiconductor fab factory
HC reserves order on plea by Go First's lessors seeking release of aircraft
GQG adds more Nvidia, considers increasing exposure to Adani, says CIO
According to the state government, the land for the factory would be handed over to Foxconn by July 1, and the project, valued at Rs 13,000 crore, is expected to create around 50,000 jobs.
Foxconn, the world's largest contract electronics manufacturer, has set a target of manufacturing 20 million iPhones a year at the plant in Devanahalli, on the outskirts of the state capital and tech hub Bengaluru.