Cabinet clears Rs 62,500 crore mobile manufacturing scheme to boost Indian phone brands
The Union Cabinet approved a Rs 62,500 crore scheme succeeding PLI, focused on local sourcing, R&D incentives and Indian smartphone brands over 5 years. Targeting 35-40% global production share and Rs 39 lakh crore output, the policy strengthens electronics retail supply chains, export capacity and roughly 60,000 jobs.
Union Cabinet cleared a Rs 62,500 crore mobile manufacturing scheme succeeding PLI, focused on local sourcing, R&D and Indian smartphone brands, targeting 35-40% global production share, boosting electronics retail supply chains and export capacity.