Cabinet clears new Rs 62,500 crore mobile manufacturing scheme, Indian-brand phones to get fresh push
The Union Cabinet approved a ₹62,500 crore mobile phone manufacturing scheme aimed at boosting domestic production and innovation. This initiative builds on the successful Production Linked Incentive (PLI) scheme, which has already attracted major companies like Apple and increased local value addition in the sector. The new scheme will incentivize local sourcing and R&D by Indian brands over the next five years, with incentives ranging from 2.25% to 5% on eligible sales.