As per DPIIT Secretary Anurag Jain, so far the Indian mobile exports during the current financial year are worth around Rs 50,000 crore. This number is expected to quadruple in comparison to that in 2020-21.
He said that in the pre-Pandemic 2020-21 and in 2021-22, the overall mobile exports were worth Rs 22,500 and Rs 45,000 respectively.
Increased Mobile Exports, PLI Scheme Approval for Foxconn & Padget
He added that “If you have seen, in the financial year 2020-21, mobile exports from our country were Rs 22500, and it has increased to Rs 45,000 crore in 2021-22, which means it has directly doubled. So far this year the mobile exports have gone above Rs 50,000 crore”.
Foxconn India and Padget Electronics are the two companies have been approved by the government for mobile manufacturing under the production-linked incentive (PLI) scheme.
The incentives for the two companies were worth Rs 357.17 crore and Rs 58.29 crore, respectively.
As per the AtmaNirbhar plan, the Government had launched Production Linked Incentive (PLI) schemes in 14 sectors to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports.
The DPIIT Secretary said that “Foxconn India and Padget Electronics are success stories of India’s PLI scheme for the mobile manufacturing sector”.
Foxconn manufactures Apple’s iPhone and Padget manufactures Motorola mobile handsets.
Talking about the PLI, the senior official said, 7,717 companies across 14 varied sectors have so far benefitted from such flagship incentives.
He said the companies are investing on their own terms and according to the information. The proposed investment of these companies is about Rs 2.74 lakh crore.
What is PLI?
A performance-linked incentive is a form of incentive from one entity to another, such as from the government to industries or from an employer to an employee, which is directly related to the performance or output of the recipient and which may be specified in a government scheme or a contract
