NEW DELHI: Mobile phone manufacturing in India grew 14 times in 8 years, said the Ministry of Electronics and Information Technology (Meity) on Thursday.
The ministry noted that the PLI Scheme has turned out to be a catalyst for the growth of India’s electronics manufacturing sector. “Mobile phone production, which had sunk to Rs 18,900 crore in 2014-15, is now up over 14 times to Rs 2,75,000 crore, of which a 28% jump of Rs 60,000 crore was recorded within the first year of the scheme,” said the ministry.
The scheme, the government believes, also helped increase mobile exports, which were almost zero in 2015-16 to reach Rs 27,000 crore in 2019-20. The ministry said within the first year of the scheme, mobile phone manufacturing saw a 66% rise to Rs 45,000 crore.
“In a YoY comparison for the first 5 months of April-August, mobile exports were up 140% to Rs 25,000 crore from Rs 10,300 crore.” PLI scheme on Large-Scale Electronic Manufacturing, which includes manufacturing of mobile phones and specified electronic components, was approved in March 2020, with an outlay of Rs 38,645 crore.
Nearly 16 firms, (5 global firms under category Mobile Phone (Invoice value Rs 15,000 and above), 5 domestic and 6 overseas companies under Specified Electronic Components were approved under the scheme.