Government Launches ₹62,500 Crore Scheme to Boost Mobile Manufacturing

The Indian government notified a ₹62,500 crore Mobile Phone Manufacturing Scheme (MPMS) on August 21 to incentivize local production.

Companies with a turnover of at least ₹10,000 crore in FY26 are eligible for the incentives, which aim to create 60,000 new jobs.

IT Minister Ashwini Vaishnaw stated the scheme targets the emergence of three major Indian smartphone brands within the next 10 to 14 months.