India

Smartphones & Components Worth Rs 11.5 Lakh Cr To Be Made In India In Next 5 Years: IT Minister

New Delhi: The Ministry of Electronics and IT revealed that the proposals submitted by mobile and components companies under Production Link Incentives (PLI) scheme is expected to create 3 lakh direct and 9 lakh indirect jobs in India.

Mobile phones worth around Rs 9 lakh crore in the above-Rs 15,000 category are expected to be made here. In the sub-Rs 15,000 category, devices worth Rs 2 lakh crore are expected to be produced, Union IT Minister Ravi Shankar Prasad said on Saturday.

The scheme is India positive but won’t affect any country at the same time, the minister said. “I do not wish to take the name of any country. We have got proper rules and regulations with regard to our security, bordering countries, all those compliances are important,” he explained, adding that the schemes will give 4-6 per cent incentives to electronics companies that make components such as transistors, diodes, thyristors, resistors, capacitors and nano-electronic components such as microelectromechanical systems in India.

Among the proposals submitted are foreign contract manufacturers of Apple (Foxconn Hon Hai, Wistron and Pegatron). Samsung, Lava, Dixon, Micromax have also submitted and it is expected that mobile devices and components worth over Rs 11 lakh crore will be manufactured in India in the next 5 years.

Home-grown Lava is reportedly planning to invest around Rs 800 crore over the next five years under this scheme.

The incentives for manufacturing of electronic components and semiconductors, modified electronics manufacturing clusters (EMC 2.0) scheme, and production-linked incentive scheme for large-scale electronics manufacturing will be around be Rs 50,000 crore over the next five years.

Component manufacturing companies, including motherboard maker AT&S, Ascent Circuits, Sahasra and Vitesco, have also submitted proposals. About 40 companies have shown interest.

OB Bureau

Recent Posts

Rs 220 Cr Cocaine Seizure In Odisha: Cargo Ship Crew To Return To Vietnam After Year-Long Detention

Paradip: Crew members of a cargo ship, which has been berthed at Odisha’s Paradip port…

15 minutes ago

After Two-Day Closure, Odisha’s Similipal National Park Reopens For Tourists

Bhubaneswar: After a two-day closure due to heavy rainfall, Similipal National Park located in Odisha’s…

44 minutes ago

Bhubaneswar’s SAI International Residential School Celebrates 7th Founder’s Day In Style

Bhubaneswar: The Annual Founder’s Day of SAI International Residential School (SIRS) was celebrated in style,…

47 minutes ago

Locals Snatch Excise Team’s Vehicle Keys Over Brown Sugar Peddler’s Arrest In Odisha

Balasore: Tension prevailed at Kamarda Bazar in Odisha’s Balasore district during a crackdown by excise…

1 hour ago

Private Plane Crashes In Brazil’s Mountain Resort Town; At Least 10 People Killed

New Delhi: A private plane crashed in Gramado, a popular mountain resort town in Brazil,…

1 hour ago

Desecration Of Hanuman Idol Triggers Protest In Odisha’s Keonjhar

Keonjhar: Desecration of a Hanuman idol in Barbil area of Odisha's Keonjhar district triggered stiff…

1 hour ago

This website uses cookies.