Govt Launches ₹62,500-Crore Mobile Manufacturing Push
What Happened
The Centre has notified the ₹62,500-crore Mobile Phone Manufacturing Scheme (MPMS), offering incentives of 2.25%-5% on mobile phones made in India, along with an additional up to 1.5% incentive for local sourcing of components and 3% extra support for Indian brands investing in design and R&D. The five-year scheme runs until FY31.
Key Takeaways
The scheme aims to deepen local value addition, reduce import dependence, boost smartphone exports, and support Indian brands. The government expects ₹39 lakh crore in cumulative production and around 60,000 direct jobs over the next five years.