HP, Dell among firms that have applied to Indian incentive program: minister
AdrianHancu/iStock Editorial via Getty Images
HP (NYSE:HPQ), Dell Technologies (NYSE:DELL) are among at least 32 electronics companies that have applied to an incentive program in India to build computers, tablets and other hardware in the country, an Indian minister said on Wednesday.
Information Technology Minister Ashwini Vaishnaw said that the applications stem from India's $2B program for information technology that was announced in May, according to Reuters.
Other companies that have applied to the program include Asus, Acer and Lenovo, the news outlet added, citing a video feed from ANI news agency.
HP (HPQ) shares fell sharply on Wednesday after the company HP tumbles as Wall Street debates 'uneven' recovery, guidance cut its guidance for the rest of the fiscal year amid an uneven recovery in the PC market.
Indian Prime Minister Narenda Modi is attempting to boost domestic manufacturing and recently announced restrictions on imported laptops.
Apple (NASDAQ:AAPL) and Intel (INTC) are among the firms that have voiced their opposition to the import restrictions. However, Apple has worked with its suppliers to boost manufacturing in the country, including for the iPhone and other products.
Earlier this year, Apple (AAPL) opened its first two retail stores in the country, in Mumbai and New Delhi.

More on HP, Dell and more

Apple: Tim Cook's Plan To Revive Growth Is Here
HP Inc. Q3 2023 Earnings Call Transcript
Apple: Quit Blindly Following Buffett
Apple has resolved some iPhone 15 issues, Pro Max mass production lags: analyst
HP tumbles as Wall Street debates 'uneven' recovery, guidance cut
Apple said to press on suppliers to solve Vision Pro display issues