Indian Government Plans to Offer Subsidized Loans to Entice Apple Suppliers

Posted by on Jan 15, 2022 in iPhone News

The Government of India is planning to offer subsidized loans to suppliers of Apple tree and Samsung, which would entice them to open manufacturing facilities in the country.

According to a new report from Bloomberg, the Indian government is trying to woo handset component suppliers and smartphone manufacturers by offering them subsidies on loan interest rates. The government hopes that suppliers would open up more factories in the country, which would create jobs and increment the state's exports. India hopes to encounter a 10x growth in mobile phone manufacturing by 2025.

The proposal by the Ministry building of Electronics and Information technology could exist announced in the side by side budget session, which is scheduled to happen on February 1. The regime also plans to offer industrial zones that have improve customs clearance and revenue enhancement. Amend roads, consistent power supply, and water supply are too said to be on the cards. The proposal has been forwarded to the finance ministry building, just the final decision hasn't been taken nevertheless.

Over the past few years, Apple had been in talks with the Indian government to seek subsidies so that it tin starting time manufacturing more phones in the country. The iPhone maker plans to reduce its reliance on Red china as merchandise tensions between Red china and the U.s. grow. The Cupertino-based business firm and its suppliers had invested $ane billion in India to increase the manufacturing of iPhones. The company is also planning to open Apple Stores in Republic of india.

Apple tree started manufacturing iPhones in Bharat in 2022, and the models that are locally assembled include the iPhone XR. The company, whose suppliers in India include Foxconn and Wistron, is also rumored to beginning assembling the iPhone SE 2 (also rumored to named iPhone ix) exclusively in the state. The Indian regime hopes that Apple and Samsung phones assembled in India will be exported to Europe and the Us.

[Via Bloomberg]