The five-year Mobile Phone Manufacturing Scheme aims to increase production, create jobs, strengthen local supply chains and help Indian companies build globally competitive smartphone brands.
Apple Inc's iPhone production in India crossed $70 billion in FOB value over FY22–FY26, with exports alone touching $50 billion — a resounding vindication of India's PLI scheme and a direct answer to those who question the country's manufacturing capabilities.
The Reserve Bank of India’s recent bulletin highlights a striking fact: Corporate profits have risen from about ₹2.5 trillion in FY21 to around ₹7.1 trillion in FY25