iPhone assembler Pegatron Board gives nod for initial investment of $150 million in India: Report
By MYBRANDBOOK
The board of Pegatron has agreed for an initial investment of $150 million (Rs 1100 crore) for building manufacturing facilities in India, as per news source. Pegatron is the second largest contract manufacturer.
It is expected that Pegatron’s India facility will start operation in the second half of next year or in early 2022. The company also has plans to make more investments in India over the next two years, CEO Liao Syh-jang had said in an investor conference.
The iPhone contract manufacturer registered its India subsidiary in July this year and due to the pandemic it has been harder for Pegatron staff to visit India, resulting in delays.
Pegatron, along with other two Apple suppliers Foxconn and Wistron, has been cleared to avail sops under the central government’s production-linked incentive (PLI) scheme which kick started on August 1, 2020. Under the scheme, Apple will locally produce devices worth around $50 billion over five years, a bulk of which will be for exports, according to government data.
Out of the three Apple’s suppliers, Pegatron doesn’t have operations in India. It will start availing of the incentives under the PLI scheme only from April 1, 2021.
In fact, the company started business operations in India this September with the appointment of statutory auditors and remittance of Rs 1 crore towards initial subscription of equity shares.
Apple though has placed Pegatron on probation for violating its supplier code of conduct involving student workers at Pegatron factories in China.
The CEO has said that the company will not let something like this happen again.
Government officials in India though say that the development may not derail the Taiwanese vendor’s plans in India, as per news source.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
RELIANCE JIO INFOCOMM LTD.
STERLITE TECHNOLOGIES LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
BHARAT ELECTRONICS LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Arjun Malhotra
Arjun Malhotra, the Chairman of Magic Software Inc., is widely recogni...
ICONS OF INDIA : SANJAY NAYAR
Sanjay Nayar is a senior finance professional in the Indian private in...
Icons Of India : Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla recently made a comeb...
PARTNER SPEAKERS
PSU
IFFCO - Indian Farmers Fertiliser Cooperative
IFFCO operates as a cooperative society owned and controlled by its fa...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
