Global To Local: Applications invited under new mobile manufacturing policy

The government on Tuesday started inviting applications for the Rs 40,995-crore production linked incentive (PLI) schemes to attract global mobile device makers and boost local companies for electronics manufacturing. Firms can apply till July 31 and the selected companies will be announced by early August.

Telecom and IT minister Ravi Shankar Prasad said India will initially aim to attract top five global mobile manufacturing companies and also promote five local firms that will be identified through a screening process. “There are 5-6 large companies that control 80% of the global mobile market. Initially, we will pick up five global champions who under the PLI scheme shall be permitted to participate. “Global and the local will together make India a good manufacturing talented country, supporting the global chain. We will also promote five Indian companies to become national champions,” Prasad said.