HomeNewsBusinessSmartphone PLI: $1 billion given in 3 years, 5 companies got 98% of the funds, says report
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Smartphone PLI: $1 billion given in 3 years, 5 companies got 98% of the funds, says report

At $13.1 billion in the April-November period, handsets are now the second highest exported product from India

February 13, 2025 / 08:47 IST
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The PLI scheme has been active in ramping up smartphone production in the country.

The government has disbursed close to $1 billion under the flagship  production-linked incentive (PLI) scheme for smartphone manufacturing between 2022-2025, The Indian Express has reported.

A total of Rs 8,700 crore was disbursed to 19 companies, of which five —  Foxconn (Rs 2,807.17 crore), Tata Electronics (Rs 2,067.51 crore), Pegatron (Rs 1,724.36 crore), Samsung (Rs 1,365.91 crore) and Padget Electronics (Rs 596 crore) — accounted for more than 98 percent of the disbursal amount, the report added.

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Out of the five, Foxconn, Tata Electronics and Pegatron, the three contract manufacturers of Apple, received over 75 percent of the amount, the report added, citing data received by publication in response to an application under the Right to Information Act.

Moneycontrol couldn't independently verify the report.