India Approves ₹62,500 Crore Mobile Manufacturing Scheme
The Union Cabinet has approved a ₹62,500 crore Mobile Phone Manufacturing Scheme (MPMS) to enhance domestic production and local value addition. The scheme, effective from FY2026-27 to FY2030-31, aims to generate mobile phone production worth ₹39 lakh crore and create approximately 60,000 direct jobs. Companies will receive production-linked incentives of 2.25% to 5% on eligible sales, with additional incentives for local sourcing and R&D. India's mobile phone production has surged from ₹18,900 crore in FY2014-15 to an expected ₹6.27 lakh crore in FY2025-26, making it the world's second-largest mobile manufacturer. In CY 2025, smartphones became India's largest export commodity, valued at ₹2.62 lakh crore.
Published 4 hours ago • 15 Jul 2026, 04:55 PM IST