India on track to quadruple mobile exports of Rs. 22,500 Crore in 2020-21, says DPIIT secretary
India’s mobile exports so far in the current financial year are worth around Rs 50,000 crore and are expected to quadruple from those of 2020-21, DPIIT Secretary Anurag told ANI. Jain. In pre-pandemic 2020-21 and in 2021-22, the overall mobile exports, according to him, were worth Rs 22,500 and Rs 45,000 respectively.
“If you saw, in the financial year 2020-21, our country’s mobile exports were Rs 22,500, and it increased to Rs 45,000 crore in 2021-22, which means it has directly doubled. So far this year, mobile exports have exceeded Rs 50,000 crore,” he added.
On Tuesday, the government approved incentives for two companies – Foxconn India and Padget Electronics – to manufacture mobile phones under the Production Linked Incentives (PLI) scheme. The incentives for the two companies were worth Rs 357.17 crore and Rs 58.29 crore respectively.
Under the Ministry of Electronics and Information Technology, the incentive payout proposals were reviewed by the Empowered Committee, consisting of NITI Aayog CEO Param Iyer, Industry and Trade Promotion Department Interior (DPIIT), Secretary Anurag Jain, Ministry of Electronics and Information Technology (MeitY) Secretary Alkesh Kumar Sharma, and other Empowered Committee members.
Under its AtmaNirbhar plan, the government had launched Production Linked Incentive (PLI) schemes in 14 sectors to make Indian manufacturers globally competitive, attract investment, increase exports, integrate India in the global supply chain and reduce dependence on imports.
“Foxconn India and Padget Electronics are success stories of India’s PLI program for the mobile manufacturing sector,” the DPIIT Secretary said.
Foxconn makes Apple’s iPhone and Padget makes Motorola mobile handsets.
Speaking about the LIP, the senior official said that 7,717 companies across 14 varied sectors have so far benefited from these flagship incentives. He said companies invest on their own terms and according to information. The proposed investment of these companies is around Rs 2.74 lakh crore.