Another Economic Slap on China with luv from India

Luv to China from India:

On First April or Day 8 of Lockdown, a scheme called Production Linked Incentive Scheme was launched for Large Scale Electronics Manufacturing which extends an incentive of 4% to 6% on incremental sales (over base year) of goods under target segments that are manufactured in India to eligible companies, for a period of five years subsequent to the base year (FY2019-20). The scheme was open for filing applications till 31.07.2020. Incentives are applicable under the scheme from 01.08.2020.

This will spell a loss of INR 11,50,000 crore approximately to China.

Global who of who of Mobile Industry Arrive:

A total of 22 companies have filed their application under the PLI Scheme.

Continue reading