Foxconn India, Padget Electronics Sops Under Production-Linked Incentive Scheme Approved by Government

Foxconn is the first global company to be approved under the 'Mobile Phones' segment to receive incentives for mobile manufacturing in India.

By ANI | Updated: 21 December 2022 16:10 IST

Foxconn India, Padget Electronics Sops Under Production-Linked Incentive Scheme Approved by Government

Photo Credit: Facebook/ Foxconn

Padget Electronics is a wholly-owned subsidiary of Dixon Technologies

Highlights

Padget Electronics is a wholly-owned subsidiary of Dixon Technologies
The incentive amount approved for Padget Electronics is Rs. 357.17 crore
Foxconn is the top manufacturer and assembler of mobile phones

The government has said that it has approved the incentives for two companies — Foxconn India and Padget Electronics — for mobile manufacturing under the production-linked incentive (PLI) scheme for the large-scale electronics manufacturing (LSEM) sector.

According to a statement from NITI Aayog, the Empowered Committee headed by NITI Aayog Chief Executive Officer Param Iyer approved incentives for two companies — one a domestic company and the other a global company — for mobile manufacturing under the production-linked incentive (PLI) scheme.

Foxconn Hon Hai Technology India Mega Development is the first global company that has been approved under the target segment 'Mobile Phones' to receive incentives under mobile manufacturing for the period from August 1, 2021, till March 31, 2022, based on its incremental investments and sales figures, according to the statement released on Tuesday evening. The incentive amount approved is Rs. 357.17 crore.

[Sponsored] Samsung Galaxy S24: The Ultimate Camera Phone With Smarter On-Device AI

The statement said Foxconn Hon Hai Technology India Mega Development (or Foxconn India), owned by Hon Hai/Foxconn Technology Group, is part of the Foxconn Group, which is the world's No. 1 manufacturer/assembler of mobile phones. Foxconn India is a Taiwanese multinational electronics contract manufacturer with its headquarters in Tucheng, New Taipei City.

Homegrown company Padget Electronics has been approved by the Empowered Committee to receive incentive under mobile manufacturing for the quarter January-March this year based on its incremental investments and sales figures under the target segment 'Mobile Phones', according to NITI Aayog. The incentive amount approved is Rs. 58.29 crore.

Padget Electronics is a wholly-owned subsidiary of Dixon Technologies and has manufacturing facilities in Noida, Uttar Pradesh, according to the statement. Padget Electronics had already received an amount of Rs. 53.28 crore under the PLI scheme for large-scale electronics manufacturing for August-December 2021 based on its incremental investments and sales figures, the statement of NITI Aayog said.

Foxconn Says It Will Ease COVID-19 Restrictions at Chinese iPhone Factory

Under the ministry of electronics and IT, the proposals for disbursement of incentives were considered by the Empowered Committee, comprising NITI Aayog CEO Param Iyer, department for promotion of industry and internal trade (DPIIT) Secretary Anurag Jain, ministry of electronics and information technology (MeitY) Secretary Alkesh Kumar Sharma, and other members of the Empowered Committee.

What are the best smartphones you can buy in India in 2022? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.