PLI For Electronics Manufacturing Attracted Rs 10,213 Crore Investments: Minister|Economy News

New Delhi: The Production Linked Scheme (PLI) for electronic devices producing is carrying out well and it has actually drawn in an advancing financial investment of Rs 10,213 crore till December 2024, Union Minister of State for electronic devices and infotech Jitin Prasada educated Rajya Sabha today.

Under the unique motivation plan, advancing manufacturing of Rs 662,247 crore and extra work of 137,189 (straight work) has actually been accomplished, the preacher claimed in his written reply. Driven by the unique motivation plan, the manufacturing of cellphones has actually enhanced from around 60 million cellphones in 2014-15 to concerning 330 million cellphones in 2023-24.

This is greater than 5 times enhance in variety of cellphones made over the last ten years.In worth terms, the manufacturing of cellphones has actually enhanced from a meagre Rs 19,000 crore in 2014-15 to Rs 422,000 crore in 2023-24 expanding at a CAGR of 41 percent.

“Due to policies of the government for promotion of electronics manufacturing, India has become a mobile phone exporter now from a mobile importing country in 2014-15,” the preacher claimed in the written reply.Further, considering that the creation of the PLI Scheme for Large Scale Electronics Manufacturing, cellphone exports have actually enhanced from Rs 22,868 crore in 2020-21 to Rs 129,074 crore in 2023-24 expanding at a CAGR of 78 percent. .
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Further, whereas in 2015, 74 percent of all cellphones offered in India were imported, India has actually currently gotten to a factor where 99.2 percent of the mobile phones being utilized in India are made in India.

Apart from producing cellphones, production of different digital components/sub-assemblies for cellphones such as batteries, battery chargers, PCBA, video camera components, show component, rooms, USB Cable, Ferrite, and Glass covers has actually additionally begun in India, the preacher filled in the top home via his reply.