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Apple eyes sops for local iPad assembly

  • Posted By
    10Pointer
  • Categories
    Economy
  • Published
    19th Feb, 2021

Context

Govt is planning to expand the ambit of Production Linked Incentive Scheme via which Apple Inc aims to assembly iPads locally

What is PLI scheme?

In order to reduce India's dependence on China, the government in March had announced a scheme that aims to give companies incentives on incremental sales from products manufactured in domestic units.

What are the sectors covered?

Initially launched for mobile manufacturing and other electronic components and later expanded to Critical Key Starting materials/Drug Intermediaries and Active Pharmaceutical Ingredients and Manufacturing of Medical Devices Cabinet has approved 10 more sectors.

Priority

Sectors

Implementing Ministry/Department

1. 

Advance Chemistry

Cell (ACC) Battery

NITI Aayog and Department of Heavy Industries

2. 

Electronic/Technology Products

Ministry of Electronics and Information Technology

3.

Automobiles
& Auto Components

Department of Heavy Industries

4. 

Pharmaceuticals drugs

Department of Pharmaceuticals

5. 

Telecom & Networking Products

Department of Telecom

6. 

Textile Products: MMF segment and technical textiles

Ministry of Textiles

7. 

Food Products

Ministry of Food Processing Industries

8. 

High Efficiency Solar PV Modules

Ministry of New and Renewable Energy

9.

White Goods (ACs & LED)

Department for Promotion of Industry and Internal Trade

10. 

Speciality Steel

Ministry of Steel

Intended benefits of the scheme

  • Low import dependency
  • Low current account deficit
  • More employment
  • Boost RBI’s forex reserve
  • Stable exchange rate