According to data released by the government, India has emerged as the second-largest mobile phone manufacturer globally with a 126 per cent rise in production from the fiscal year 2021 to 2022.
As per the government, India is currently one of the fastest growing mobile phone manufacturers in the world due to the production-linked incentive (PLI) scheme which provides financial incentives on net incremental sales to eligible companies involved in the manufacturing of mobile phones and specified electronic components.
Further, the momentum is expected to continue with the country likely to produce devices worth Rs 4-4.5 trillion between fiscal 2022 and 2024.
