24 companies pledge $1.5bn to set up mobile phone factories in India.

About two dozen companies have pledged $1.5 billion of investments to set up mobile phone factories in India, Bloomberg reported. This comes after government in March announced incentives that make niche firms eligible for payment of 4-6% of their incremental sales over the next five years. Apple, Samsung, and Foxconn are among the companies that have pledged investments, Bloomberg added.

MADE IN INDIA is the next wave.