Budget 2020: Govt may announce sops to woo Apple, Samsung suppliers

The proposals floated by MeitY include offering of interest subsidy on local borrowing by manufacturers

The government is considering a plan to offer subsidised loans to mobile handset manufacturers in a bid to attract Apple and Samsung Electronics’s suppliers to open factories in the nation, said a government official.

The proposals by the Ministry of Electronics and Information Technology includes offering interest subsidy on local borrowing by manufacturers, may form part of the federal budget to be unveiled on February 1, the official said, asking not to be identified citing rules on speaking to the media. It also includes setting up of industrial zones equipped with taxation and customs clearance, along with infrastructure such as