Indian PLI schemes contribute to increased production, employment generation and economic growth
Within three years of the telecom PLI scheme, the scheme has attracted investments of Rs 3,400 crore, telecom equipment production has crossed the Rs 50,000 crore milestone, with exports worth around Rs 10,500 crore, creating over 17,800 direct jobs and many indirect jobs. This milestone underlines the strong growth and competitiveness of India's telecom manufacturing industry, driven by government initiatives to boost local production and reduce import dependence. The PLI scheme aims to enhance domestic manufacturing capabilities and make India a global hub for telecom equipment production. The scheme also provides financial incentives to manufacturers based on increased sales of products manufactured in India.
The Production Linked Incentive Scheme for Large Scale Electronic Manufacturing of Electronics covers the manufacturing of mobile phones and its components. As a result of this PLI scheme, both the production and export of mobile phones from India have increased significantly. India was a major importer of mobile phones in 2014-15 when only 5.8 crore units were produced in the country while 21 crore units were imported, in 2023-24 India will produce 33 crore units and import only 0.3 crore units and export around 5 crore units. The value of mobile phone exports has increased from Rs 1,556 crore in 2014-15 and just Rs 1,367 crore in 2017-18 to Rs 1,28,982 crore in 2023-24. The import of mobile phones was worth Rs 48,609 crore in 2014-15, which is expected to drop to just Rs 7,665 crore in 2023-24.