How a new govt subsidy plan hopes to create a competitive Indian smartphone brand
The Indian government approved a ₹62,500 crore mobile phone manufacturing scheme aimed at fostering domestic smartphone brands. This five-year initiative builds on the earlier Production Linked Incentive scheme by emphasizing local sourcing, design, and research and development (R&D) for Indian companies, with an additional 3% incentive for eligible sales linked to design and R&D. The plan reflects the government's broader ambition to enhance the electronics sector beyond mere assembly operations.