CAT 
India’s Ministry of Electronics and IT has proposed giving component makers billions in aid in an effort to boost local manufacturing of devices like the iPhone.
Tim Cook in a previous visit to India — image credit: Apple
Tim Cook in a previous visit to India — image credit: Apple
India is once more hoping to incentivize smartphone manufacturers to continue to expand into the region. This time the plan includes 230 billion rupees, or about $2.7 billion, in new subsidies to offset production costs.
In addition to the subsidies, the ministry has also suggested that India reduce tariffs on certain electronic components, ultimately bringing down production costs, a source told Bloomberg. If approved, the details will likely be announced in the government’s upcoming budget in February.
Originally appeared here:
India proposes nearly $3 billion in subsidies for electronics makers like Apple
