12 Lakh Jobs will be Available in the Mobile Sector

22 companies have shown interest in investing in India under Production Linked Incentive (PM) in the electronics sector. These include many foreign companies, but four Chinese companies such as Xiaomi, Oppo, Vivo, and Realme, which have a 70 percent share in India's mobile phone market, have distanced themselves from the scheme.

IT and Electronics Minister Ravi Shankar Prasad said that there will be an investment of Rs 11.5 lakh crore in this sector in the next five years. This investment will create three lakh direct jobs and nine lakh indirect jobs. Seven lakh crore worth of mobiles will be exported when these companies start production. 60 percent of mobile phones made under the scheme will be exported. In April, the PM scheme was announced by the Ministry of IT and Electronics. The scheme was to apply by July 31 to start production in India.

The PM scheme is for the manufacture of mobile phones and electronic components. The ministry had announced to make five foreign and five domestic companies in the manufacturing sector of mobile phone companies in India. Prasad said that foreign companies under PM scheme had phones worth more than Rs 15,000 will build.

There will be no such condition as the price for domestic companies. Foreign companies such as Samsung, Foxconn Hot Boy, Rising Star, Wijtron, and Pegatron have shown interest under the PM scheme.