Apple exceeds India's PLI scheme targets, lags in value addition

Technology major Apple, the poster boy of India’s production-linked incentive (PLI) scheme, has exceeded its targets on five of the six parameters that the government monitors. A company must achieve the minimum target on four parameters — incremental production value, exports, investment, and the freight on board (FoB) value — every year to be eligible for PLI, which ranges from 4 per cent to 6 per cent under the scheme for mobile devices. The good news is that the iPhone maker’s three India vendors — Foxconn, Pegatron and Tata Electronics — have collectively surpassed these targets. The production value