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Union Minister of State for Electronics and Data Expertise, Rajeev Chandrasekhar on Friday mentioned that Prime Minister Narendra Modi’s forward-thinking Manufacturing Linked Incentive (PLI) scheme continues to succeed in new milestones in manufacturing, exports and job creation. In a social media put up on X, previously Twitter, the Union minister introduced that iPhone maker Apple achieved over Rs 1 lakh crore price of iPhone manufacturing inside 11 months of FY24 beneath the PLI scheme.
“PM @narendramodi ji’s visionary PLI Scheme scaling new heights on a regular basis on manufacturing, exports and jobs. Apple crosses over Rs. 1 lakh crores price of iPhones in 11 months of FY 24, beneath the PLI Scheme. Large variety of new jobs for the youth in iPhone factories run by Foxconn, Pegatron and Wistron. 2/3rds of the manufacturing will probably be exported from India. Future Electronics factories & startups in #Thiruvanthapuram. #MakeInIndia #ViksitBharat# ModiKiGuarantee #Rajeev4TVM,” Chandrasekhar posted on X.
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The minister additionally famous the numerous creation of latest job alternatives for youth in Apple iPhone factories operated by contract producers Foxconn, Pegatron and Wistron. Moreover, the minister said that two-thirds of the manufacturing will probably be exported to different international locations from India.
Based mostly on trade information, Apple exported iPhones valued at round Rs 65,000 crore to different international locations. The India Mobile and Electronics Affiliation (ICEA) reported that cell phone manufacturing, by way of worth, has skyrocketed from Rs 18,900 crore in 2014-15 to an estimated Rs 4.10 lakh crore in FY24, marking a greater than 20-fold enhance.
Over the previous decade, India has collectively manufactured greater than 2.45 billion cell phone models.
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Within the fiscal 12 months 2014-15, cell phone exports from India amounted to solely Rs 1,556 crore.
Specialists recommend that the PLI schemes for Massive-Scale Electronics Manufacturing (LSEM) and for IT {hardware} are propelling India in direction of changing into a aggressive hub for electronics manufacturing.
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