Big blow to China: 24 companies to set up mobile phone plants in India

New delhi date. 17 August 2020, Monday

The Corona virus, which originated in China, is causing havoc in the world, causing an outcry against China around the world. Many companies around the world are preparing to close their businesses in China. Efforts by the Indian government to attract such companies are bearing fruit. Assembly partners from companies ranging from Samsung Electronics to Apple are all set to invest in India.

The Modi government had in March announced a number of incentives for electronics companies. As a result, about 24 companies have agreed to invest 1.5 1.5 billion to install mobile phone units in India. Apart from Samsung, Foxconn, Wistron Corp, and Pegatron Corp have also expressed interest in investing in India. India also announced similar policies for the pharmaceutical sector. This included the automobile, food processing and textile industries.

So another important reason for companies to leave China is the growing trade war between the US and China. Tensions between the two countries are affecting companies' trade. These companies are planning to set up units in India so that the tension does not spread to the supply chain. The growth of companies in India will create employment opportunities in the country, as well as contribute to the Indian economy.