Incentives will be awarded to both the companies based on their incremental investments and sales figures, the NITI Aayog said.
According to the think tank, the PLI scheme for large-scale electronics manufacturing has attracted investments worth Rs 4,784 crore by September this year. The value of total production under the scheme stands at more than Rs 2.04 lakh crore, including exports worth Rs 80,769 crore.
The scheme also created 40,916 jobs and the electronics manufacturing industry is expected to rise to $300 billion by 2025-26, it said.
Mobile phone production has risen from about 6 crore in 2014-15 to 31 crore in 2021-22, it said. Mobile phone exports stood at Rs 45,000 crore in value during the fiscal ending March 2022.
In the current year, up to November, the value of mobile phone exports is Rs 40,000 crore, which is more than double the exports made during the same period last year, the NITI Aayog said.