New Delhi, July 15: The Government has approved the Mobile Phone Manufacturing Scheme (MPMS) with a budgetary outlay of Rs 62,500 crore.
Under the MPMS, manufacturers will receive incentives ranging from 2.25% to 5% on eligible sales of mobile phones made in India.
The scheme will be implemented over five years, from FY 2026-27 to FY 2030-31.
An additional incentive of up to 1.5% will be provided for sourcing key components and sub-assemblies domestically.
Indian brands involved in product design and research and development (R&D) will also receive an extra 3% incentive on eligible sales.
The government expects the scheme to help produce mobile phones worth around Rs 39 lakh crore during its five-year period.
It is also expected to boost exports and create nearly 60,000 direct jobs, supporting economic growth and employment. (BVI)
