How will India’s new Rs 62,500-crore smartphone manufacturing scheme boost local brands?
The Ministry of Electronics and Information Technology (MeitY) has announced the Mobile Phone Manufacturing Scheme (MPMS), with a budgetary outlay of Rs 62,500 crore, aiming to increase global competitiveness by enhancing scale, deepening the mobile manufacturing supply chain through higher Domestic Value Addition (DVA), and strengthening domestic manufacturing capabilities. The scheme will also support Indian…