india pli schemes reduced dependency mobile imports 33 percent fy22 crisis report india

The phased manufacturing programme and the production-linked incentive scheme have gone a long way to cut mobile imports that fell by 33 percent in fiscal 2022, and pushed local production up by around 26 percent during the year, says a report.A Crisil report said that local production of mobile phones has been logging in a 33 percent annual growth rate between fiscals 2016 and 2021, the pace of which slowed a tad in FY22 to 24-26 percent.This growth is in spite of the ongoing chip shortage, and three of the global…