India Launches $19.8 Billion Incentive Program to Boost Smartphone Manufacturing
India announced new incentives totaling approximately $19.8 billion aimed at expanding smartphone manufacturing and semiconductor production, with the goal of reducing reliance on China for electronics supply chains. The initiative includes a five-year ₹625 billion ($6.5 billion) Mobile Phone Manufacturing Scheme offering sales-based rewards to manufacturers and an additional ₹1.28 trillion ($13.3 billion) allocated for domestic chip manufacturing support.
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Topics: Apple supply chain India semiconductors smartphone manufacturing