India Notifies New Mobile Phone Manufacturing Scheme with ₹62,500 Crore Budget
The Indian government has notified a new scheme aimed at boosting mobile phone manufacturing in the country. The Mobile Phone Manufacturing Scheme (MPMS) was approved by the Cabinet on July 15 and has been operationalized with an effective date of April 1, 2026.
The scheme is designed to promote domestic production and exports, with a budgetary outlay of ₹62,500 crore over five years. It will provide incentives to manufacturers for producing more in India, with Indian-owned brands eligible for additional benefits. Apple has expressed interest in expanding its operations beyond iPhone assembly in India, while Google may shift some of its export-oriented device production from China.
The government is targeting ₹39 lakh crore in cumulative mobile phone production and around 60,000 direct jobs over the scheme's five-year tenure. The notification confirms terms that the market had already priced in, with EMS stocks such as Dixon Technologies and Amber Enterprises showing gains after the Cabinet approval.