New Delhi: The Union Cabinet has approved Rs 62,500 crore for the second edition of the mobile phone production-linked incentives scheme, IT Minister Ashwini Vaishnaw said on Wednesday.

Follow The PSUWatch Channel on WhatsApp

"Cabinet has approved mobile PLI," Vaishnaw said. According to a presentation shared by the minister, the Cabinet has approved Rs 62,500 crore for the scheme.

Smartphones have emerged as India's top exported commodity in CY 2025. The country exported smartphones worth Rs 2.62 lakh crore, with iPhone maker Apple dominating the segment.

Follow PSU Watch on LinkedIN

Following a push to mobile phone production, India has emerged as the second-largest mobile manufacturer in the world. The mobile phone production in the country more than doubled to Rs. 5.5 lakh crores in FY 2024-25, from Rs. 2.14 lakh crores in FY 2019-20.

The mobile phone exports have increased around eight-fold from Rs 0.27 lakh crores in FY 2019-20 to Rs 2 lakh crores in FY 2024-25.

From being an importer of mobile phones back in 2014, India has now become a net exporter, with more than 300 mobile manufacturing units being operational in the country.

(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated)