India is set to introduce a new set of incentives aimed at boosting smartphone manufacturing, with a focus on tying government support to exports and promoting the use of locally sourced components. This initiative will replace the current Production-Linked Incentive (PLI) scheme, scheduled to conclude by March 31.
The forthcoming incentives underscore India’s commitment to fostering a conducive environment for smartphone production and export. This move could particularly benefit tech manufacturers, as it aligns with broader industry trends emphasizing sustainability and reduced dependency on external sources.
By incentivizing exports and encouraging the integration of locally made parts, India aims to enhance its position in the global tech supply chain. This shift not only promotes self-reliance but also opens up opportunities for tech companies to expand their manufacturing activities in the region and streamline their global supply chains.
Source: Tech-Economic Times