The companies are planning to diversify supply chains to the ongoing coronavirus pandemic and US-China trade war. So far our country India has lagged behind, countries such as Vietnam, Cambodia, Myanmar, Bangladesh, and Thailand these countries to set up plants in the country.
Engineers from Samsung are using and testing devices to inspect frequency changes in display panels that feature gets adaptive frequency technology.
In this Pandemic condition, a lot of technology companies are manufacturing and producing units to South Asian nations and it seems to work for India is its incentive-driven scheme that is attracting major players including Samsung, Apple Inc, others.
Big Companies like Apple iPhone, Foxconn, Samsung, Pegatron Corp, Wistron Corp, and there are many other companies that have shown their interest in investing more in India.
About twenty-four companies invest $ 1.5 billion to set up mobile phone manufacturing units in India.
Financial incentives shall be given to selected companies at the rate of 5% of incremental sales of goods manufactured in India and it will be covered under target segments, for a period of 5 years from the initial year 2021-2022 to the financial year 2025 – 2026.
What happens if China depreciates its currency Chinese products will be cheaper and people will continue to buy their products. In the past few weeks, companies have shown interest in opening the mill factory facilities in southeast Asia and also in relocating their factories out of China due to coronavirus. Several Indian states have also started proposing terms and have made many attractive offers to woo these foreign companies to their respective states.