The firm has mentioned its plan with senior officers within the ministry of electronics and IT.
People conscious of the dialogue mentioned the corporate will likely be manufacturing smartphones value Rs 2.2 lakh crore, priced above Rs 15,000 per unit, underneath the production-linked incentive (PLI) scheme.
“Samsung is now planning to make cell phones value $50 billion (Rs 3.7 lakh crore) within the subsequent 5 years. Out of this, smartphones value $30 billion will likely be produced underneath the PLI scheme,” an official advised PTI on the situation of anonymity.
Samsung didn’t reply to a question despatched on the matter.
Apart from Samsung, main international gamers Wistron, Pegatron, Foxconn and Hon Hai and Indian corporations resembling Lava, Dixon, Micromax, Padget Electronics, Sojo, UTL and Optiemus have utilized for advantages underneath the PLI scheme.
The authorities expects cell phones value Rs 11 lakh crore will likely be made within the nation within the subsequent 5 years.
According to estimates of the India Cellular and Electronics Association (ICEA), cell phone corporations will improve gadget manufacturing within the nation to as much as Rs 27.5 lakh crore underneath the PLI scheme.
At current, cell phone manufacturing within the nation is estimated to be over Rs 2 lakh crore every year, using round 5-6 lakh individuals.
The authorities expects to draw Rs 1 lakh crore investments within the sector and sees manufacturing income potential of Rs 10 lakh crore by 2025.
It had notified three schemes on April 1 for the promotion of electronics.
These had been schemes for manufacturing of digital elements and semiconductors, modified electronics manufacturing clusters (EMC 2.0) scheme, and production-linked incentive scheme for giant scale electronics manufacturing.
Samsung has been bullish on the federal government’s Make in India initiative. It has set-up the world’s largest cell phone manufacturing facility with an annual handset manufacturing capability of as much as 12 crore items in Uttar Pradesh.
According to the ICEA, the overall cell phone market in India has crossed Rs 2 lakh crore by way of worth.
Samsung led India’s cell phone market with 24 per cent share within the April-June quarter, based on analysis agency IDC.