The move is the start for the Taiwanese electronics manufacturer to set up a manufacturing base in India.Also Read: Revealed!Packaged Wine Circulating in RI Is Imported From China
Pegatron announced it was starting its business operations in a statement filed with the company registrar on September 4.Also Read:Come on Owe Dong! Transfer of Money from Central to BPD IDR 11.5 Trillion Still Unemployed
The company has appointed BSR & Co as legal auditors for the financial year ending March 31, 2021. Chui Tan Lin, CEO of Pegatron Corporation Taiwan, and Akhilesh Bansal have been appointed as Director of Indian business, subject to the company’s filing regulations.
Pegatron is one of three contract manufacturers Apple, the other two are Foxconn and Wistron which were already in India.
Quoting from the Times Now News, Tuesday (9/15/2020), the entry of this USD 45 billion contract manufacturer will provide a boost to the manufacturing base. Apple which wants to diversify its production facilities from China, in the midst of the US-China trade war which is currently heating up.
Not only Apple, several other global cellphone and electronics makers are being lured by the Indian government. By using the Production Linked Investment (PLI) scheme which is considered profitable in an effort to increase local manufacturing and increase exports.
Earlier this month alone, the Indian government approved a $ 100 billion mobile export proposal from Apple’s biggest iPhone builders Foxconn, Pegatron and Wistron as well as Samsung, Karbonn, Lava, and Dixon.