Telecommunications and IT Minister Ravi Shankar Prasad on Monday said India’s production-linked incentive PLI scheme would attract global investors and help the country leverage its position as the mobile manufacturing hub.
“We wanted India to become the second largest mobile manufacturer in the world. Now I am pushing India to surpass China. That’s my goal and I am very clearly defining it,” Prasad said at the annual general meeting of industry chamber FICCI.
He said the government was looking to make India a hub of other electronic products as well with the expansion of the PLI scheme to other sectors. He hinted that the scheme might be extended to other electronic goods such as laptops and tablets as they have become an integral part of the daily lives.
The National Policy on Electronics 2019 (NPE) envisages electronic manufacturing turnover of more than Rs 26 trillion by 2025, out of which Rs 13 trillion is expected to come from the mobile phone segment.
PLI is designed to propel India’s stature and ease of doing business under the leadership of Prime Minister Narendra Modi to showcase India as an alternate manufacturing destination, Prasad said.
“PLI is designed to enable global champion companies to come to India and make Indian companies’ national champion,” he said.
The government has started a PLI scheme under which eligible companies can get sops of around Rs 48,000 crore.
The government has cleared 16 proposals from THE domestic and international companies entailing investment of Rs 11,000 crore under the PLI scheme to manufacture mobile phones worth Rs 10.5 trillion over the next five years.