Cabinet Approves ₹62,500 Crore Mobile Manufacturing Scheme

The Union Cabinet has approved a new mobile manufacturing scheme valued at ₹62,500 crore, designed to provide a fresh push to domestic production and prioritize Indian-brand mobile devices. This initiative seeks to transform India into a global hub for electronics manufacturing by creating a more supportive ecosystem for local manufacturers. The financial outlay aims to reduce import dependency and strengthen the broader domestic supply chain for telecommunications hardware.

Parallel to this manufacturing push, India is expanding its economic measurement and support frameworks. The Centre for Trade and Investment Law (CTIL) and the Confederation of Indian Industry (CII) have unveiled a new guidebook to empower Micro, Small, and Medium Enterprises (MSMEs) to navigate global markets effectively. Furthermore, the government plans to introduce a headline Index of Services Production (ISP) within the next few months, which will provide a clearer, more granular view of the services sector’s contribution to the national economy.

Under the India Semiconductor Mission 2.0, reports indicate that the government is refining its fiscal approach. Officials are reportedly hesitant to subsidize technology transfer costs and land acquisition expenses, aiming to focus incentives on capital expenditure related to fabrication and packaging. This adjustment reflects a strategic recalibration of the semiconductor policy to ensure maximum efficiency in government spending while still attracting high-value investments into the nation's burgeoning chip manufacturing sector.