Rs 62,500 crore bet: After making iPhones, can India build the next Apple?
India is launching a Rs 62,500 crore manufacturing scheme to transition from smartphone assembly to indigenous design and R&D. The initiative aims to build domestic brands capable of competing with global giants like Apple and Samsung.
Why it matters
This represents a strategic shift in India's industrial policy to move up the value chain in the global electronics supply chain.
In 2020 when the Production Linked Incentive (PLI) Scheme was launched as a cornerstone of the ‘Atmanirbhar Bharat’ push, little did anyone know that smartphones would emerge as the poster boy of its success. Mobile phones assembly and manufacturing is arguably the biggest success story of the PLI scheme and now India is looking to take the next big leap in this space.With the launch of the Rs 62,500 crore Mobile Phone Manufacturing Scheme (MPMS), India is eyeing its homegrown smartphone brands - with every aspect from design, R&D to components and manufacturing taking place in the country.
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