India’s $6.6 Billion Incentive Program Challenges China in Manufacturing, Insiders Say

Caixin Global | Jun 5, 2020 at 9:26 PM
  • India’s new incentive program to entice global smartphone-makers to set up factories there will give it a long-term edge over China in competing for manufacturing.
  • As part of the program, the government will offer subsidies to qualified companies equal to 4% to 6% of incremental sales of the goods they manufacture in India over the five-year period.
  • China remains the dominant player in the global supply chain for smartphone manufacturing, as nearly 65% of the world’s smartphones are assembled and directly shipped from the country to buyers around the world.