PLI 2.0 for smartphones underway
image for illustrative purpose
New Delhi: The Indian government has begun working with smartphone companies to shape the next phase of the Production-Linked Incentive (PLI) scheme, Union IT and Electronics Minister Ashwini Vaishnaw said on Monday.
During media interaction on the sideline of an event here, the minister said that the aim is to increase the share of locally made components in smartphones and key electronics to 35-40 per cent over the next few years.
The minister confirmed that work on PLI 2.0 for smartphones is underway with industry stakeholders. The present scheme, which ends this financial year, is widely seen as the most successful among India’s incentive programmes.
He said that 24 electronics component projects approved under the current scheme -- along with new investments expected under ECMS 2.0 -- will play a major role in boosting domestic value addition.
According to the minister, this growth will happen gradually as more components start being fully manufactured in India.
