India's Mobile Manufacturing Boom: A Decade of Growth

Investment in mobile phone manufacturing under the PLI scheme has significantly exceeded targets, according to Electronics and IT Secretary S Krishnan. Addressing a press conference on the 10-year milestone of the Make In India initiative, Krishnan highlighted substantial growth in production, exports, and employment in the electronics sector.

Investment in mobile phone manufacturing under the PLI scheme has significantly exceeded targets, Electronics and IT Secretary S Krishnan announced on Wednesday. Speaking at a press conference to mark 10 years of the Make In India initiative, Krishnan shared that the overall production of electronics in India has surged to Rs 9.52 lakh crore, with an annual compounded growth rate of 17.4 per cent from Rs 1.9 lakh crore in 2014-15.

'If you look at what the PLI scheme has done in the mobile sector, the overall production we have reached is far in excess of the target,' Krishnan stated. 'We have achieved Rs 6.61 lakh crore in total production value, well above our target. The overall investment has reached Rs 9,100 crore, again surpassing the set goals.'

The government had initially set a target of Rs 7,000 crore in cumulative investment over the five-year scheme period, and Rs 5,488 crore by the end of FY 2023-24. The mobile PLI scheme aimed to achieve a total production of Rs 4.39 lakh crore by FY 2023-24, and Rs 8.12 lakh crore over five years ending in FY 2026. There has been a notable increase in mobile phone exports, jumping from Rs 1,566 crore in 2014-15 to an astounding Rs 1.2 lakh crore in 2023-24. Additionally, the scheme has created 1,22,613 jobs, surpassing the original employment targets.

(With inputs from agencies.)