Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, highlighted the remarkable impact of Prime Minister Narendra Modi's visionary Production-Linked Incentive (PLI) scheme, noting its significant contributions to production, exports, and job creation. Chandrasekhar took to Twitter to announce that Apple had exceeded Rs 1 lakh crore in iPhone production within 11 months of FY24, thanks to the PLI scheme. He emphasized the substantial employment opportunities for youth in iPhone factories operated by major companies such as Foxconn, Pegatron, and Wistron, with two-thirds of the production earmarked for export.

The minister's announcement aligns with industry data provided by the India Cellular & Electronics Association (ICEA), which indicates a remarkable surge in mobile phone production value from Rs 18,900 crore in 2014-15 to an estimated Rs 4.10 lakh crore in FY24, marking a more than 20-fold increase over the past decade. During this period, India has cumulatively produced over 245 crore mobile phone sets.

Furthermore, Chandrasekhar highlighted the exponential growth in mobile phone exports from a mere Rs 1,556 crore in 2014-15, a testament to the success of the PLI scheme. Experts anticipate that the PLI schemes for Large-Scale Electronics Manufacturing (LSEM) and IT hardware are propelling India towards becoming a competitive global destination for electronics manufacturing.

In essence, Chandrasekhar's statements underscore the transformative impact of the PLI scheme, not only in bolstering domestic production and exports but also in creating significant employment opportunities and positioning India as a formidable player in the global electronics manufacturing landscape.