Investment and production in mobile phone manufacturing under the PLI scheme has exceeded the target. Electronics and IT Secretary S Krishnan has given this information. On the occasion of completion of 10 years of Make in India initiative on September 25, the top official said that the total production of electronics in India has increased from Rs 1.9 lakh crore in 2014-15 to Rs 9.52 lakh crore at an annual compound growth rate of 17.4 percent.
Production reached Rs 6.61 lakh crore
According to the news, Krishnan said that if you look at what the PLI scheme has done in the mobile sector, the total production we have reached is much more than the target. We have reached a production of Rs 6.61 lakh crore, which is much more than the target set. The total investment has been Rs 9,100 crore, which is again much more than the target. According to PTI news, according to official data, the government had targeted a cumulative investment of Rs 7,000 crore during the five-year plan period and Rs 5,488 crore by 2023-24.
Significant increase in export of mobile phones
The Mobile PLI scheme has set a target of achieving a cumulative production of Rs 4. 39 lakh crore in 2023-24 and Rs 8. 12 lakh crore during the 5-year plan period till FY 2026. The export of mobile phones has increased significantly. It was around Rs 1. 2 lakh crore in 2023-24 and the export has in fact increased 77 times compared to 2014-15. In FY 2014-15, we exported mobile phones worth around Rs 1,566 crore.
Today we are exporting mobile phones worth about Rs 1. 2 lakh crore. This is a remarkable jump. This is where the Make in India programme has really succeeded. He said that a total of 1,22,613 jobs have been generated under the mobile PLI scheme which is more than the original target.
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