India is set to implement a series of subsidies and tariff reductions designed to lower production costs for Apple and other smartphone manufacturers as part of its broader effort to become a global electronics manufacturing hub (via Bloomberg).
India is proposing $2.7 billion in financial incentives and tariff adjustments targeting the electronics sector, particularly benefiting smartphone makers such as Apple. The measures are intended to bolster the production of critical components like batteries, camera modules, and microprocessors, which are currently largely imported from countries such as China.
Prime Minister Narendra Modi’s government previously rolled out several initiatives, including the Production-Linked Incentive (PLI) scheme, which drew major companies like Apple and Samsung to set up or expand their production facilities in India. The focus of the new proposal is more granular, specifically targeting the establishment of a domestic supply chain for components.
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