The Hong Kong Economic Journal (HKEJ) recently reported that the three largest Apple suppliers – Taiwanese manufactures Foxconn, Pegatron and Wistron – are all betting high on India’s Production Linked Incentive Scheme (PLI). Anonymous sources revealed that the total additional investments that these three vendors have planned is now at the level of US$900 million. The US$6.65 billion PLI program is India’s new investment encouragement initiative to expand the total output of India’s smartphone manufacturing industry. Sources have said that Foxconn received 40 billion Rupees (around US$543 million), Pegatron received 13 billion Rupees (around US$177 million) and Wistron received 12 billion Rupees (around US$164 million). Today Foxconn’s Indian manufacturing volume can meet the full demand of Chinese buyer Xiaomi and it is planning to increase its iPhone volume. Wistron now produces 200,000 second generation iPhone SE per month in India and its plan is to double that figure by the end of this year. Pegatron does not operate in India at this time, but new factories are in the planning stage.
Source: HKEJ, September 29, 2020