The Union government has approved 16 proposals from marquee brands, including the makers of Apple devices, under two new flagship schemes, in a move expected to fetch Rs. 11,000-crore additional investments in local electronics manufacturing, which would imply production worth Rs. 10.5 trillion over the next five years.

Foxconn is all set to crack a deal with Government of Maharashtra to acquire a 1,200-acre of land in the state to set up a $10 billion plant for manufacturing Apple devices.