As per industry sources, the government is planning to offer subsidised loans to mobile handset manufacturers in order to attract Apple Inc. and Samsung Electronics suppliers to open factories in the nation.
The proposal given by Ministry of Electronics and Information Technology (MeitY) includes offering interest subsidy on local borrowing by manufacturers. Further, it also involves setting up industrial zones equipped with taxation and customs clearance, along with infrastructure.
The proposals have been forwarded to the finance ministry but no decision has been taken as of now.
The government reportedly plans to shift its export focus to Europe and the US, with the manufacturing of high-end mobile handsets for Apple and Samsung.