Top headlines: Apple plans more production in India, PSB stake sale & more

From Apple planning to move 10% production to India, RBI advising the government to cut stake in PSBs to Videocon staring at liquidation, here are the top news of the day

Apple plans to move 10% of its global manufacturing to India in 5 years

Apple Inc. is expected to manufacture mobile phones in India, with an incremental production value of a $29 billion in the next five years, mostly for the export market. This is based on eligibility under the Production Linked Incentive (PLI) scheme, which closed on July 31. The move will help the company shift production from China, where around 95 per cent of its mobiles are currently manufactured, say analysts. They point out that India could constitute around 10 per cent of Apple’s global production at the