New Delhi, March 22 Prime Minister Narendra Modi's visionary production linked incentive (PLI) scheme is scaling new heights everyday on production, exports and jobs, Union Minister of State for Electronics and IT Rajeev Chandrasekhar said on Friday.
In a post on the social media platform X, the minister said that under the PLI scheme, Apple crossed over Rs 1 lakh crore worth of iPhone production in 11 months of FY24.
He further mentioned that a "massive number of new jobs for the youth in iPhone factories run by Foxconn, Pegatron and Wistron" were generated.
"2/3rds of the production will be exported from India," the minister added.
As per industry data, Apple exported iPhones worth approximately Rs 65,000 crore to other countries.
According to the industry body, India Cellular & Electronics Association (ICEA), mobile phone production, in value terms has surged from Rs 18,900 crore in 2014-15 to an estimated Rs 4.10 lakh crore in FY24, registering over 20 fold increase.
Cumulatively, over 245 crore mobile phone sets have been produced in India during the last 10 years.
In 2014-15, mobile phone exports from India were a mere Rs 1,556 crore.
According to experts, the PLI scheme for Large-Scale Electronics Manufacturing (LSEM) and for IT hardware is advancing towards making India a competitive destination for electronics manufacturing.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor