Skip to main content

India to offer subsidized loans to entice Apple and Samsung suppliers

The proposals are set to be revealed in the Federal budget on Feb. 1

What you need to know

  • India is reportedly planning to offer Apple and Samsung suppliers subsidized loans.
  • It is hoped the initiative will tempt new suppliers to open factories in the nation.
  • The country also plans to set up industrial zones with taxation and customs clearances and infrastructure.

A report suggests that India is planning to offer Apple and Samsung suppliers subsidized loans in the hope that they will open factories in the nation.

According to Bloomberg, a government official revealed the plans, which are set to be announced on February 1 as part of the new federal budget.

According to the report:

The proposals by the Ministry of Electronics and Information Technology includes offering interest subsidy on local borrowing by manufacturers, may form part of the federal budget to be unveiled on Feb. 1, the official said, asking not to be identified citing rules on speaking to the media. It also includes setting up of industrial zones equipped with taxation and customs clearance, along with infrastructure such as roads, power, and water supply, the official said.

India currently makes around $24 billion worth of phones but hopes to multiply that to $190 billion by 2025. Apple already makes some iPhones in India and has apparently pledged to increase its presence in the nation over the next five years. One of its main suppliers, Foxconn, already has two factories in the south of the country where it makes devices for Xiaomi and Nokia. Given trade tensions between the US and China, the report notes that this could give manufacturers the opportunity to diversify their manufacturing efforts away from China.

If the proposals are taken forward, India will shift its export focus North towards Europe and the US.



Udimi - Buy Solo Ads from iMore - Learn more. Be more. https://ift.tt/2u0wMd1
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

9 VCs in Madrid and Barcelona discuss the COVID-19 era and look to the future

Spain’s startup ecosystem has two main hubs: Madrid and Barcelona. Most observers place Barcelona first and Madrid second, but the gap appears to close every year. Barcelona has benefitted from attracting expats in search of sun, beach and lifestyle who tend to produce more internationally minded startups. Madrid’s startups have predominantly been Spain or Latin America-focused, but have become increasingly international in nature. Although not part of this survey, we expect Valencia to join next year, as city authorities have been going all-out to attract entrepreneurs and investors. The overall Spanish ecosystem is generally less mature than those in the U.K., France, Sweden and Germany, but it has been improving at a fast clip. More recently, entrepreneurs in Spain have moved away from emulating success in pursuit of innovative technologies. Following the financial crisis, the Spanish government supported the creation of startups with the launch of FOND-ICO GLOBAL, a €1.5 billi...
Post a Comment
Read more

How to Stay Creative and Keep SEO in Mind

Information Technology Blog - - How to Stay Creative and Keep SEO in Mind - Information Technology Blog Search engine optimization (SEO) refers to customizing your website’s content to ensure that web browsers give your website a high SEO score. The sites with the highest SEO scores are featured on the search engine’s first page of search results for relevant searches.  71%  of the click-throughs happen with articles listed on the first page of results on the search engine. This means that if your website’s article is the second (or third, or fourth page), it’s less likely the search user will even see your article. You want your article to be ranking as close to the top of the first page of results as possible. In order to have a good SEO score your site’s content needs to feature keywords and relevant phrases. It must be optimized for easy navigation between pages. It also needs to be referenced via external links that drive traffic to your site. Incorporating all of t...
Post a Comment
Read more

Everything we know about HHS Protect, a secretive government project with Peter Thiel's Palantir that helps brief Trump's coronavirus task force

A secretive project at the US Department of Health and Human Services is working with technology companies to collect and analyze data related to the novel coronavirus .  Dubbed "HHS Protect," the effort tracks information from around the country about coronavirus case numbers, hospital capacity, and even supply chain issues.  HHS uses Palantir Technologies , a data firm cofounded by Peter Thiel, to distill that information for the White House coronavirus task force. Visit Business Insider's homepage for more stories . A secretive project at the US Department of Health and Human Services is working with technology companies to collect and analyze data related to the novel coronavirus.  Dubbed "HHS Protect," the effort includes roughly 2.5 billion pieces of data from healthcare providers, government officials, and labs around the country about coronavirus case numbers, hospital capacity, and even supply chain issues.  The goal is learn about the progress...
Post a Comment
Read more