The government has approved applications of 16 electronics companies including 10 mobile phone manufacturers under the Production-Linked Incentive scheme (PLI) in an earnest attempt to make India into an export and manufacturing hub. Global companies that received approval to avail the scheme for manufacturing mobile phones with invoice value Rs 15,000 and above are Samsung and top Apple suppliers Foxconn, Wistron and Pegatron.
The companies approved under the PLI scheme are likely to promote exports significantly. Out of the total production of Rs 10.5 lakh crore in the next 5 years, around 60 per cent will be contributed by exports of the order of Rs 6.5 lakh crore, aimed at making India Atmanirbhar (self-reliant).
Apple (37 per cent) and Samsung (22 per cent) together account for nearly 60 per cent of global sales revenue of mobile phones and the PLI scheme is likely to increase their manufacturing base manifold in the country. It is worth mentioning here that Samsung runs the world’s biggest mobile phone manufacturing plant in Noida (Uttar Pradesh).
Domestic mobile phone manufacturers who have been given permission by the government are Lava, Bhagwati (Micromax), Padget Electronics, UTL Neolyncs and Optiemus Electronics who have proposed production output worth Rs 1.25 lakh crore over the next five years, the Ministry of Electronics and Information and Technology (MeitY) said in a statement. The government expects the homegrown companies to expand their manufacturing operations in a significant manner and grow into national champion companies in mobile phone production.
Plus, six companies are approved under the Specified Electronic Components Scheme which include AT&S, Ascent Circuits, Visicon, Walsin, Sahasra, and Neolync.
The companies will also generate more than 2 lakh direct employment opportunities in the next five years along with the creation of additional indirect employment of nearly 3 times the direct employment, MeitY said. The companies themselves will infuse Rs 11,000 crore in the Indian electronics manufacturing industry.
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