In 2021-22, India’s mobile exports increased to Rs. 45,000 crores, and exports have already surpassed Rs. 50,000 crores this year.
According to DPIIT Secretary Anurag Jain, India’s mobile exports are worth around Rs 50,000 crore so far this fiscal year and are expected to quadruple in comparison to that in 2020-21. According to him, overall mobile exports in pre-pandemic 2020-21 and 2021-22 were worth Rs 22,500 and Rs 45,000, respectively.
“As you can see, in the fiscal year 2020-21, our country’s mobile exports were Rs 22500, and they increased to Rs 45,000 crore in 2021-22, more than doubling. So far this year, mobile exports have surpassed Rs 50,000 crore “He continued.
The government approved incentives for two companies, Foxconn India and Padget Electronics, under the production-linked incentive (PLI) scheme on Tuesday. The two companies received incentives totaling Rs 357.17 crore and Rs 58.29 crore, respectively.
The proposals for incentive disbursement were reviewed by the Empowered Committee, which included NITI Aayog CEO Param Iyer, Department of Promotion of Industry and Internal Trade (DPIIT) Secretary Anurag Jain, Ministry of Electronics and Information Technology (MeitY) Secretary Alkesh Kumar Sharma, and other Empowered Committee members.
The government launched Production Linked Incentive (PLI) schemes in 14 sectors as part of its AtmaNirbhar plan to make Indian manufacturers more globally competitive, attract investments, boost exports, integrate India into the global supply chain, and reduce reliance on imports.
“Foxconn India and Padget Electronics are examples of success stories from India’s PLI scheme for the mobile manufacturing sector,” said the DPIIT Secretary.
Padget manufactures Motorola mobile handsets, while Foxconn manufactures Apple’s iPhone.
Concerning the PLI, the senior official stated that 7,717 companies from 14 different sectors have so far benefited from such flagship incentives. He stated that the companies are investing on their own terms and based on information. These companies intend to invest approximately Rs 2.74 lakh crore.