Cabinet clears Rs 62,500 cr mobile PLI scheme 2.0
The Union Cabinet approved ₹62,500 crore for the second edition of the mobile phone production-linked incentives scheme, as announced by IT Minister Ashwini Vaishnaw. This initiative aims to further boost India's mobile manufacturing sector, which has seen production rise from ₹2.14 lakh crore in FY 2019-20 to ₹5.5 lakh crore in FY 2024-25. With smartphones becoming India's top export, the country has transitioned from a mobile phone importer to a net exporter, housing over 300 manufacturing units.