More than assembly
The Cabinet’s approval of Semicon 2.0 and the new Mobile Phone Manufacturing Scheme (MPMS) is more than the announcement of another Rs 1.9 lakh-crore incentive package. It marks a decisive shift in the manufacturing strategy. For much of the past decade, the government’s objective was to persuade global electronics companies to make in India. That effort has delivered measurable results.
India is today the world’s second-largest mobile phone manufacturer by volume, 99.2% of the phones sold domestically are produced locally, mobile phones have emerged as the country’s largest export category, and electronics production and exports have grown seven-fold and eleven-fold, respectively, since 2014-15.
