Union Minister of State for Electronics and IT Rajeev Chandrasekhar on Friday announced that the production-linked incentive (PLI) scheme is scaling new heights every day on production, exports, and jobs. The minister shared this information via an X post.
He also said that Apple has produced over Rs 1 lakh crore worth of iPhones in 11 months of FY 24 under the PLI scheme. In addition to this, companies such as Foxconn, Pegatron, and Wistron have created a ‘massive number’ of new jobs for the youth in iPhone factories, as per the information shared by Chandrasekhar.
Minister also informed that the ⅔ of the production will be exported from India. As per industry data, Apple exported iPhones worth approximately Rs 65,000 crore to other countries.
“PM @narendramodi ji's visionary PLI Scheme scaling new heights everyday on production, exports and jobs. Apple crosses over Rs. 1 lakh crores worth of iPhones in 11 months of FY 24, under the PLI Scheme. Massive number of new jobs for the youth in iPhone factories run by Foxconn, Pegatron and Wistron. 2/3rds of the production will be exported from India. Future Electronics factories & startups in #Thiruvanthapuram,” the minister wrote in an X post.
According to the industry body, India Cellular & Electronics Association (ICEA), mobile phone production, in value terms, surged from Rs 18,900 crore in 2014-15 to an estimated Rs 4.10 lakh crore in FY24, registering over 20 fold increase.
Cumulatively, over 245 crore mobile phone sets have been produced in India during the last 10 years. In 2014-15, mobile phone exports from India were a mere Rs 1,556 crore.
According to experts, the PLI scheme for Large-Scale Electronics Manufacturing (LSEM) and for IT hardware is advancing towards making India a competitive destination for electronics manufacturing.
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