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S Krishnan, Secretary, Ministry of Electronics and IT (MeitY). NEW DELHI: India has emerged as the world’s second-largest mobile manufacturer , with an annual production value of Rs 4.1 lakh crore, said S Krishnan , Secretary, Ministry of Electronics and IT ( MeitY ).
“India has emerged as the world's second-largest manufacturer of mobile phones, with annual production valued at INR 4.1 lakh crore. The government's priority has always been to enable PLI beneficiaries to maximize their benefits, meet targets, and ultimately enhance India's business environment,” Krishnan said, according to a statement by the Broadband India Forum (BIF).
Advt The official was speaking at an industry conference organised by BIF. The Delhi-based association represents technology firms such as Meta, Google, Amazon, TCS, Samsung, Qualcomm, and others. The production-linked incentive (PLI) scheme for large-scale electronics manufacturing notified on April 1, 2020 provides an incentive of 4%-6% on incremental sales over the base year.
Overall, the cabinet had estimated a production value of Rs 8.12 lakh crore during the five years in which the mobile phone PLI scheme ran and targeted a production value of Rs 4.39 lakh crore by March 2024.
ET, citing the government’s internal estimates, reported this month that the production value of all companies eligible for incentives under the handset PLI breached the target with a total value of Rs 4.8 lakh crore, as of March 2024. “Through strategic policies and production linked incentives, the government has attracted major global players and encouraged domestic manufacturers to set up and enhance production facilities within India.
As a result, the country has witnessed a significant surge in mobile phone production, reducing gradual dependence on imports and creating thousands of jobs in the manufacturing sector,” said T.V. Ramachandran, President, BIF.
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