India’s mobile output is up 33X: Rs 62,500 Cr PLI 2.0 opens a new chapter for 2 stocks
India’s mobile phone manufacturing industry is entering a different phase. The country has already emerged as the world’s second-largest mobile phone manufacturer. Mobile phone production has risen 33x, from around ₹18,900 crore in FY15 to around ₹6.3 lakh crore in FY26. Mobile phone exports have also increased from ₹1,566 crore to ₹2.6 lakh crore during the same period.
Yet, the next leg of growth will depend not just on producing more phones, but on how much of the value chain India can capture. This is where the government’s new Mobile Phone Manufacturing Scheme, or PLI 2.0, comes in. With an outlay of ₹62,500 crore from FY27 to FY31, the scheme shifts the focus towards incremental sales, exports and higher domestic value addition.
