India developing PLI 2.0 to target 55%+ smartphone value addition
Business
India is working on PLI 2.0, a fresh version of its Production-Linked Incentive scheme, to level up local smartphone production.
The goal? Target more than 55% domestic value addition. cutting down on expensive imports like displays and chipsets that currently make up most of the cost.
PLI 2.0 complements ₹40,000cr ECMS
PLI 2.0 will work alongside the ₹40,000 crore Electronic Component Manufacturing Scheme (ECMS) to boost local sourcing and help new manufacturing units get started this year.
The plan also puts a spotlight on making key components (think lithium-ion batteries and camera modules) in India, aiming to strengthen the country's mobile tech ecosystem and reduce reliance on imports even further.