&w=3840&q=100)
Mobile phone exports soar to ₹2 trillion, up 127 times in 10 years: Govt
Press Trust of India New Delhi
Export of mobile phones from India increased by 127 times to reach ₹2 trillion in the last 10 financial years, Parliament was informed on Wednesday.
According to data shared by Minister of state for Electronics and IT Jitin Prasada in a written reply to Lok Sabha, the export of mobile phones "increased 127 times" from India from₹ 1,500 crore in 2014-15 to₹ 2 lakh crore in 2024-25.
"The PLI Scheme for LSEM has already attracted a cumulative investment of INR 12,390 crore, led to a cumulative production of ₹8,44,752 crore with exports of ₹4,65,809 crore and generated additional employment of 1,30,330 (direct jobs) till Jun'25," the minister said.
The production linked incentive (PLI) scheme for Large Scale Electronics Manufacturing was mainly meant for mobile phone manufacturing.
The minister said that 75 per cent of the total mobile phone demand in the country was met through imports in 2014-15, which has now dropped to 0.02 per cent in 2024-25.
"PLI Scheme for Large Scale Electronics Manufacturing has significantly impacted the mobile manufacturing sector in India particularly in transforming India from a net importer to a net exporter of mobile phones. Bharat is now the second largest mobile manufacturing country in the world," the minister said.
Prasada said the PLI Scheme 2.0 for IT hardware has attracted a cumulative investment of ₹717.13 crore, led to a cumulative production of ₹12,195.84 crore and generated additional employment of 5,056 (direct jobs) till June.
"Total FDI in the field of electronics manufacturing in the last 5 years (i.e. since FY 2020-21) is $4,071 million, cumulative FDI of $2,802 million has been contributed by MeitY PLI beneficiaries," the minister said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
23 minutes ago
- Business Standard
'Elections are choreographed': Rahul Gandhi's big claim against EC, BJP
Congress leader Rahul Gandhi on Thursday alleged that the Election Commission is working with the BJP to manipulate election results. Presenting data from the 2024 Lok Sabha elections in Karnataka, Gandhi claimed that "vote chori" (vote theft) had taken place on a large scale, calling it a "crime against the Constitution". During a media address at the AICC headquarters in New Delhi, Gandhi said the Congress had set up a team to investigate suspected irregularities and gathered 'concrete evidence of vote chori' over six months. He demanded access to machine-readable voter data from the past 10-15 years and CCTV footage from polling stations. "If the EC does not give us machine-readable data for the past 10-15 years and the CCTV footage, they are partaking in the crime," Rahul Gandhi said. Focus on Mahadevapura: Allegations of 100,000 fake votes Rahul Gandhi presented an analysis of voter data from the Bangalore Central Lok Sabha constituency, particularly the Mahadevapura Assembly segment. According to Gandhi, in the Lok Sabha constituency of Bangalore Central, the Congress polled 626,208 votes while BJP got 658,915 votes — a winning margin of 32,707 for the BJP. Despite Congress winning six out of seven Assembly segments in the constituency, Gandhi further pointed to a massive lead of over 114,000 votes for the BJP in Mahadevapura. This, he claimed, turned the seat in BJP's favour. 'Elections are being choreographed': Rahul Gandhi The Congress MP described the entire electoral process as being "staged". "Elections are choreographed... Our internal polling told us we would win 16 seats in Karnataka; we won nine," he said. The Congress focused on seven unexpected losses and zeroed in on Mahadevapura for a detailed analysis, he said. "We found 100,250 votes stolen. Stolen in five different ways. Duplicate voters, fake and invalid addresses, and bulk voters in a single address, on a building with 50-60 people living. But when we go there, there is no record of those people living there. One family living in that house," he added. Rahul Gandhi pointed to invalid photos and misuse of Form 6, which allows new voter registration, as methods used for vote tampering. He alleged that 100,250 votes were fraudulent, citing: • 11,965 duplicate voters • 40,009 voters with fake or invalid addresses • 10,452 bulk voters listed under single addresses • 4,132 voters with invalid photos • 33,692 voters registered using misused Form 6 for new voter applications Concerns over polling schedule and voter turnout Rahul Gandhi raised concerns about how elections are now held in multiple phases, unlike earlier when they were completed in a single day. "There was a time in India with no EVMs; people voted on one day. Now, UP has a different voting day, and Bihar has some other day. Voting goes on for a month. This made us suspicious," he said. He also flagged sudden changes in polling dates for Karnataka and Haryana as suspicious. Referring to the Maharashtra Assembly elections, Gandhi said the number of voters added to the rolls in five months exceeded those added in the last five years. "In Maharashtra and Haryana, we saw it right in front of our faces. We said publicly and told EC, more voters were added in five months than in five years in Maharashtra. More voters than the entire population of Maharashtra. Huge jump in voter turnout after 5 pm," he alleged. The Congress MP claimed there was a discrepancy between Lok Sabha and Assembly results, with 10 million new voters added at the state level, which altered the outcome. (With agency inputs)
The Hindu
23 minutes ago
- The Hindu
Rupee rises 3 paise to close at 87.69 against U.S. dollar
The rupee consolidated in a narrow range and settled for the day higher by just 3 paise at 87.69 (provisional) against the U.S. dollar on Thursday (August 7, 2025), after U.S. President Donald Trump slapped an additional 25% duty — doubling it to 50% — on Indian goods, denting market sentiments. Forex traders said weak crude oil prices and a decline in the U.S. Dollar index supported the rupee. However, muted domestic markets and foreign fund outflows capped sharp gains. Moreover, Mr. Trump's aggressive move, which kicks in 21 days, threatens to raise total duties on select Indian exports to as high as 50% — making them among the most heavily taxed U.S. imports globally, further dented market sentiments. At the interbank foreign exchange, the domestic unit opened at 87.69 and moved in a range of 87.67-87.77 during the day before settling at 87.69 (provisional), rising 3 paise from its previous close. On Wednesday (August 6, 2025), the rupee rebounded from a record low level and closed 16 paise higher at 87.72 against the U.S. dollar. Mr. Trump's tariffs on Indian exports are likely to hit sectors such as textiles, marine and leather exports hard and were slammed by India as "unfair, unjustified and unreasonable". With this action singling out New Delhi for the Russian oil imports, India will attract the highest US tariff of 50% along with Brazil. The United States has imposed this additional tariff or penalty for Russian imports only on India, while other buyers such as China and Turkey have so far escaped such harsh measures. The 30% tariff on China and 15% on Turkey is lower than India's 50%. "We expect the rupee to slide as the trade tariff deal continues to linger with U.S. President Donald Trump doubling tariff on India to 50%, denting market sentiments. A weak tone in the domestic equities and selling by foreign investors may also pressurise the rupee. "However, weakness in the U.S. dollar and falling global oil prices may support the rupee at lower levels. USD-INR spot price is expected to trade in a range of 87.50 to 88," Anuj Choudhary – Research Analyst, commodities and currencies, Mirae Asset Sharekhan. Meanwhile, the Reserve Bank of India (RBI) on Wednesday (August 6, 2025) decided to keep the policy rate unchanged at 5.5% and retained the neutral stance, amid concerns over tariff uncertainties. Announcing the third bi-monthly monetary policy of the current fiscal, RBI Governor Sanjay Malhotra said the growth rate projection for FY26 has been retained at 6.5%. Meanwhile, Brent crude prices rose 0.52% to $67.24 per barrel in futures trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.10% to 98.08. In the domestic equity market, the Sensex advanced 79.27 points to settle at 80,623.26, while Nifty was up 21.95 points to 24,596.15. Foreign institutional investors (FIIs) offloaded equities worth ₹4,999.10 crore on a net basis on Wednesday(August 6, 2025), according to exchange data.
The Hindu
23 minutes ago
- The Hindu
Karnataka chief electoral officer asks Rahul Gandhi to declare ‘vote chori' claims under oath
The Chief Electoral Officer of Karnataka on Thursday (August 7, 2025) asked Congress leader Rahul Gandhi to share names of electors he claimed were either included or excluded wrongfully from the voters' list of the state along with a signed declaration for the poll authorities to initiate 'necessary proceedings' in the matter. In a letter to Gandhi soon after he levelled allegations of vote fraud, the State poll officer said that during a press conference in the national capital, 'you had mentioned about the inclusion of ineligible electors and exclusion of eligible electors in the Electoral Rolls...' Letter to Shri Rahul Gandhi, Hon'ble Member of Parliament and Hon'ble Leader of the Opposition in Lok Sabha Expecting the signed declaration and oath@ — Chief Electoral Officer, Karnataka (@ceo_karnataka) August 7, 2025 'You are kindly requested to sign and return the enclosed declaration/oath under Rule 20(3)(b) of the Registration of Electors Rules, 1960, along with the name(s) of such elector(s) so that necessary proceedings can be initiated.' The Leader of the Opposition in the Lok Sabha claimed there was 'vote chori' of 1,00,250 votes in the Bangalore Central constituency in Karnataka with 11,965 duplicate voters in just the Mahadevapura assembly segment, 40,009 voters with fake and invalid addresses, 10,452 bulk voters or single address voters, 4,132 voters with invalid photos and 33,692 voters misusing Form 6 of new voters. EC functionaries here said the CEO of Karnataka is expecting a signed declaration from Gandhi by Thursday evening.
