Electronics and IT Secretary S Krishnan said that investment in mobile phone manufacture under the PLI scheme, as well as output, had exceeded expectations.
Addressing reporters on the tenth anniversary of the Make In India scheme, the official stated that overall electronics manufacturing in India has climbed to Rs 9.52 lakh crore, representing a 17.4% annual compounded growth rate from Rs 1.9 lakh crore in 2014-15.
"When you look at what the PLI plan has done in the mobile industry, the entire output we have achieved much exceeds the aim. The overall value of output has reached Rs 6.61 lakh crore, which is significantly higher than the aim. The total investment has been Rs 9,100 crore, which is again significantly over than the objective," Krishnan stated.
According to official statistics, the government set a target of Rs 7,000 crore in cumulative investment during the five-year program duration and Rs 5,488 crore by 2023-24.
The mobile PLI project aims to produce a cumulative production of Rs 4.39 lakh crore in 2023-24 and Rs 8.12 lakh crore during the 5-year scheme duration until FY 2026. Exports of mobile phones have increased significantly. It was over Rs 1.2 lakh crore in 2023-24, and exports had climbed 77 times since 2014-15.
"In 2014-15, we exported mobile phones worth approximately Rs 1,566 crore." Today we export mobile phones valued around Rs 1.2 lakh crore. It's an impressive jump. "This is where the Make in India program has been truly successful," Krishnan explained.
He stated that the overall employment achieved under the mobile PLI Scheme was 1,22,613, which exceeded the initial objective.
