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Consumer Brand brand boAt Lifestyle, which sells products such as earphones, headphones, speakers and smart watches is Set to shift its majority of manufacturing units from China to India Under the government’s proposed product linked incentive (PLI) scheme for wearable makers.

boAt has recently received $100 million investment from US-based private equity major Warburg Pincus and plans to use the capital to build on its growth momentum, and to move the majority of its manufacturing from China to India, reports Times of India. As Per the report in Media, Aman Gupta and Sameer Mehta, the founders of boAt enterprises, Stated that the company is looking to tap into the government’s proposed PLI scheme for wearable makers and Wants To contribute in India Development. “The scheme will create a level playing field for manufacturers and players over a period of time with the Chinese. We have taken some baby steps. Over the next two-three quarters you will see some products coming out of India, but the idea is to get to about 50-60 per cent of our manufacturing done in India through a combination of outsourcing and in-house manufacturing,” Mehta was quoted as saying.

What is the production linked incentive scheme?
In order to boost domestic manufacturing and cut down on import bills, the central government in March this year introduced a scheme that aims to give companies incentives on incremental sales from products manufactured in domestic units. Apart from inviting foreign companies to set shop in India, the scheme also aims to encourage local companies to set up or expand existing manufacturing units. So far, the scheme has been rolled out for mobile and allied equipment as well as pharmaceutical ingredients and medical device manufacturing.