India is all set to accelerate the next phase of growth in its electronics manufacturing sector, with the notification of the Rs 62,500 crore Mobile Phone Manufacturing Scheme (MPMS). The Scheme, notified by the Ministry of Electronics and Information Technology (MeitY), aims to increase global competitiveness by further enhancing scale, deepening the mobile manufacturing supply chain through higher Domestic Value Addition (DVA), and strengthening domestic manufacturing capabilities.
The scheme will also support Indian mobile phone brands to achieve technological sovereignty, capture greater economic value, and encourage Indian patents in design and R&D, while generating employment. The scheme has two Target Segments- Incentivizing mobile phone manufacturing (Target Segment 1 (TS1)) and Supporting Indian mobile phone brands (Target Segment 2 (TS2)). The scheme tenure shall be 5 years, i.e. from FY 2026-27 to FY 2030-31.
During the Scheme tenure, cumulative mobile phone production in the country is expected to reach approximately Rs 39 lakh crore, with a significant increase in mobile phone exports. MPMS is also expected to generate around 60,000 direct jobs, contributing to economic growth, employment generation, and strengthening India's position as a global electronics manufacturing hub.
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The Alchemists Ark Pvt. Ltd. |
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1187 |
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