Modi government approves Mobile Phone Manufacturing Scheme with ₹62,500 crore outlay
NEW DELHI: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the Mobile Phone Manufacturing Scheme (MPMS) with a budgetary outlay of ₹62,500 crore to scale up handset production and deepen domestic value addition (DVA).
The MPMS scheme is aimed at building India brands to “achieve technological sovereignty, capture large economic value, and create Indian patents in design and research & development”, the Centre said in an official statement.
The scheme tenure shall be five-year, i.e., from FY26-27 to FY2030-31.
