Big tech set to expand in India
India looks set to become a new tech hub of the world!
Apple Inc. and Samsung Electronics Co. are among companies interested in increasing electronics production in India, a minister said, a boon for the country’s push to challenge neighboring China as a manufacturing hub.
Tweet on big tech expansion plans
Apple Inc. and Samsung Electronics Co. are among companies interested in increasing electronics production in India, a minister said, as the country’s push to challenge neighboring China as a manufacturing hub, Bloomberg reports #TechNews #indiahttps://t.co/R10wvANzmw
— The_Journalbiz (@the_journalbiz) May 19, 2023
Bloomberg news tweet
The South Asian nation is seeking to expand its early success in smartphones to other product categories, Rajeev Chandrasekhar, India’s minister of state for technology, told Bloomberg on Friday.
The country is launching a $2 billion plan to boost the local output of laptops, servers, tablets, and other electronics.
“We’ve had considerable success and tailwinds in the smartphone segment and we have increased interest from the likes of Apple and Samsung in expanding and growing here,” Chandrasekhar said. “We want to essentially replay that and add to that.”
India’s financial incentives for smartphone manufacturing have resulted in Apple and Samsung exporting billions of dollars of handsets from the country. The new IT hardware production-linked incentive plan has been drawn up for companies such as Dell Technologies Inc., HP Inc. and Lenovo Group Ltd., Chandrasekhar said..
