Big step towards Aatmanirbhar Bharat: Govt panel approves $100-billion mobile export proposals

In a big boost for Aatmanirbhar Bharat or self-reliant India, the empowered group has cleared applications by iPhone contract makers Foxconn, Pegatron and Wistron as well as Samsung, Karbonn, Lava and Dixon to export mobile phones worth around $100 billion from India.

The empowered group includes members from the Niti Aayog CEO along with the secretaries of economic affairs, expenditure, revenue, the Ministry of Electronics and Information Technology, Department for Promotion of Industry and Internal Trade (DPIIT) and Directorate General of Foreign Trade (DGFT).

“The empowered committee has approved all applications estimated to export around $100 billion (Rs 7.3 lakh crore) worth mobile phones under the production linked incentive scheme (PLI) and all the applications will be placed before the cabinet probably this week,” a senior government official told Economic Times.

According to reports, Apple’s contract manufacturers and Samsung have submitted production estimates of phones worth $50 billion each in the next five years.

The PLI scheme aims to make India a manufacturing hub of smartphones. The scheme basically tries to attract global investors who are moving out of China amid Sino-US trade tensions.