00:00Foxconn, one of the largest contract manufacturers of Apple products,
00:07has committed $1.5 billion USD to expand its operations in India,
00:12likely to ramp up iPhone production as Apple shifts away from its reliance on China.
00:16During Apple's Q1 2025 earnings call, CEO Tim Cook identified India as the primary source
00:26for iPhones destined for the US market in the upcoming quarter,
00:30marking a significant shift in Apple's global supply chain strategy.
00:36Besides Foxconn, many foreign manufacturers have tapped into India's Production-Linked Incentive
00:42scheme, which offers financial incentives for boosting domestic production and exports.
00:48In addition to promoting large-scale electronics manufacturing,
00:51India's Production-Linked Incentive scheme spends a diverse set of industries,
00:55including those critical to national security, such as pharmaceuticals,
01:00medical devices, telecom and networking equipment, and semiconductors.
01:08The PLI has been enormously successful. It's appropriately called the large-scale
01:14electronic manufacturing PLI because it has taken mobile phone manufacturing from
01:202 lakh-odd crores to more than 5 lakh crores. So it has been enormously successful.
01:29India is rapidly emerging as a global manufacturing hub, powered by the Production-Linked Incentive
01:34scheme launched in 2020 under the self-reliant India vision.
01:39By offering 4% to 6% subsidies on incremental sales across 14 key sectors, including electronics,
01:46pharma, and automobiles, the scheme is attracting major players like Apple and Samsung.
01:51With $2.67 billion USD earmarked for electronics alone, India is positioning itself to capture a
01:58significant share of the $1.5 trillion global market. As of November 2024, the PLI scheme had approved
02:06764 applications, including 176 from MSMEs, generating $18.72 billion USD in investment and $162.84 billion USD in production.
02:20This momentum aligns with the global China Plus One strategy, as companies diversify supply chains away
02:26from China. India is seizing the shift as a golden opportunity, using targeted incentives and a strong
02:33policy push to transform into a global manufacturing powerhouse.
02:40Every country and every industry started thinking of China Plus One about 10 years back.
02:47And every country started giving some incentives, some facilities. India also worked upon an incentive
02:54called PLI, which is Production-Linked Incentive. This scheme is very unique
02:59and perhaps not available in many countries or any countries, if I can say.
03:09India is rapidly emerging as a key player in the global technology supply chain, driven by initiatives
03:15like the Production-Linked Incentive Scheme. In the telecom and networking product segment alone,
03:20cumulative sales have reached $9.48 billion, with exports making up 18.6%.
03:25The scheme has also created over 26,000 jobs.
03:30Void by this success, the government has expanded the scheme to include 11 more telecom and networking
03:36products, offering broader opportunities for performance-based incentives.
03:40Looking beyond smartphones, India is targeting high-value sectors such as semiconductors, batteries,
03:46and drones. With cost advantages, technical talent, and strong policy support,
03:51India is well-positioned to drive sustained economic growth and support global supply chain diversification.
04:02In 2014 or 2015, the question used to be, who is manufacturing in India?
04:07But after the reforms and after the schemes, today the question is, who is not manufacturing in India?
04:16India's transformation into a global manufacturing hub is no longer aspirational. It's underway.
04:26With robust policy support, rising exports, and major global players investing under the PLI scheme,
04:33India is firmly positioning itself as an indispensable pillar of the global electronics and tech supply chain.
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