Mumbai, July 15 -- Union Cabinet has approved the Mobile Phone Manufacturing Scheme (MPMS) with a budgetary outlay of Rs 62,500 crore (Rupees Sixty-Two Thousand Five Hundred Crore Only). This is aimed at further scaling up the production, deepening domestic value addition, strengthening supply chain resilience and enhancing global competitiveness. MPMS scheme also aims at building Indian brands to achieve technological sovereignty, capture large economic value and create Indian patents in design and R&D. The scheme tenure shall be 5 Years i.e. from FY 2026-27 to FY 2030-31.

The scheme provides incentive support on eligible sales for manufacturing of mobile phones in India at differentiated rates ranging from 2.25% to 5%. Scheme also prov...