Cabinet approves ₹62,500 crore mobile manufacturing scheme to boost production, exports
The Cabinet, led by Prime Minister Narendra Modi, approved a ₹62,500 crore mobile manufacturing scheme to enhance production and exports from FY2026-27 to FY2030-31. This initiative offers production-linked incentives of 2.25% to 5% for eligible sales and an additional 3% for Indian smartphone brands focusing on design and R&D, aiming to create approximately 60,000 jobs. The scheme seeks to strengthen India's position as the world's second-largest mobile phone manufacturer and boost local sourcing and supply chain resilience.