Taiwan handset makers likely not eligible for India incentives
Jingyue Hsiao, Taipei; Steve Shen, DIGITIMES
Taiwan’s handset supply chain makers who have participated in India’s five-year production-linked incentive (PLI) scheme, such as Foxconn Technology, may not be eligible for the incentives due to the pandemic-induced impacts, according to industry sources.
The Indian government released the PLI in October 2020, promising to offer cash subsidies to makers should their investment amounts, annual sales volumes, or the number of newly hired employees meet the targets set forth by the government, starting fiscal 2021, which ended March 31.
Except for Samsung Electronics, none of the other makers was eligible for receiving the incentives for fiscal 2021.
According to an Economic Times report, due to a resurge of confirmed infection cases in India, many handset supply chain makers have said that they would be unable to reach the targets set by the Indian government for the second fiscal year.
Some makers said their sales have been affected for at least by three months due to a spike in the cases, said the report.
Related makers said that they are reluctant to add new investments or hire new employees amid concerns over the possibility of the pandemic getting worse.
