PLI Scheme Record! 'Make in India' phone exports approach 6 billion

July 25, 2022


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Prime Minister Narendra Modi started the ‘Make in India’ campaign a few years ago to present India to the world. As part of this, he also announced the Production Linked Initiative or PLI plan to manufacture smartphones locally. Domestic smartphone brands have already changed with the help of this scheme. However, in a recent report, shocking information has come to the fore. It has been learned that with the help of the government’s production linked incentive scheme, India’s mobile phone exports can exceed Rs 43,500 crore in the current financial year.

According to the India Cellular and Electronics Association (ICEA), India’s mobile phone exports have grown by nearly 75 percent to ₹5.5 billion (around Rs 42,000 crore) in the current fiscal so far. Earlier this figure was 3.17 billion (about Rs 24,000 crore) at the end of the financial year 2020-21. And looking at the overall reality, it can be said without any doubt that the profit margins will continue to increase with the help of PLI scheme.

India’s mobile phone exports reach 7 billion

ICEA President Pankaj Mahendra said that India’s mobile phone exports can easily cross 5.6 billion in the current financial year. According to ICEA, mobile phones from Apple and Samsung are the largest exporters from India, and this has led to a huge increase in shipments outside the country.

Earlier, mobile phones were exported from India to various countries in South Asia, Africa, Middle East and Eastern Europe. But now companies are focusing on the competitive markets of Europe and Asia. The focus is on quality in Asia and Europe. According to ICEA, despite some problems with Corona in 2020, companies will start benefiting from this project in 2021.

By the way, five global companies mainly take advantage of the PLI scheme for mobile phones. These are Samsung, Foxconn, Rising Star, Vistan and Pegatron. On the other hand, Indian companies like Lava, Bhagwati (Micromax), UTL Neolink and Optimus Electronics mainly take advantage of the Production Linked Incentive (PLI) scheme.