India Announces ₹62,500 Crore Mobile Phone Manufacturing Scheme

India’s Union Cabinet has approved a new Mobile Phone Manufacturing Scheme with a ₹62,500 crore outlay to strengthen India’s role in the global electronics value chain. Running from FY27 to FY31, it offers 2.25–5% incentives on eligible sales, plus 1.5% for domestic sourcing and 3% for design/R&D. Production is projected at ₹39 lakh crore, with 60,000 jobs created. The scheme builds on the earlier PLI programme, as India cements its position as the world’s second‑largest mobile manufacturer.