India is trying to get investments from huge companies all over the world. And one of the reasons behind approaching investments is development. We all know India is a developing nation, and for developing more, a country must have funds. Or it can allow other companies to set up their units in India. And this will directly or indirectly contribute to India’s economic condition. So, one more investment is going to come to India. This investment will be of Pegatron.
About Pegatron and its Investment in India
Pegatron is a well-known company. And it is also known for its contract manufacturing of Apple. The company is one of three major assembly partners of Apple, along with Foxconn Technology Group and Wistron Corporation. And recently, Pegatron Corporation’s board of directors approved investment for India. The value of this investment will be Rs 1099.8 crore. In India, a subsidiary of Pegatron is there. And this company is Pegatron Technology India Private.
According to the new, internal resources will be invested by the parent company Pegatron. And this will be a part of its long term investment in India. But till now there is no clearance of plans of these companies in detail. This news of investment comes from the Taiwan Stock Exchange.
Its Indian auxiliary, Pegatron Technology India fused in July this year. Also, it is among the 16 worldwide and Indian portable handset producers. The public authority gave proceed in October this year to begin fabricating under the Production Linked Incentive (PLI) plot.
And this is not the only company to manufacture in India. Many other MNCs are also going to manufacture their mobile phones in India. Two of these companies are Samsung and Rising Star. These companies will make mobile phones in the Rs 15,000 and above value segment.
Domestic Companies Approved under PLI Scheme
Apart from international companies, domestic companies also got approval from the government. Lava, Micromax’s parent company Bhagwati Products, Padget Electronics, UTL Neolyncs, and Optiemus Electronics are these companies.
The Center in April came up with the new PLI plot. In this scheme organizations that set up new versatile and determined hardware fabricating units or extended their current units would get motivating forces of 4-6 percent on gradual deals from merchandise made in India.
The PLI plot, open for a sum of five years, expects to give out motivating forces worth Rs 5,334 crore altogether in the main year, to be partitioned among all the effective candidates.