iPhone Makers Win Nod for $143 Billion India Manufacturing Plan
- Foxconn, Pegatron, Samsung among 16 firms cleared by India
- About 60% of the production to be exported in next five years
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Major iPhone assemblers for Apple Inc. were among 16 companies that won approval to manufacture products in India under a plan aimed at attracting investment of more than 10.5 trillion rupees ($143 billion) for mobile-phone production over the next five years.
Apple’s primary suppliers -- Foxconn Technology Group, Wistron Corp., Pegatron Corp. -- and Samsung Electronics Co. were among a list of global firms that were cleared by India’s Ministry of Electronics and Information Technology, according to statement on Tuesday. About 60% of the total production, or 6.5 trillion rupees, is expected to be exported in the next five years, it said.