India's Rs 62,500 crore scheme to build a homegrown smartphone brand
India already makes 99.2% of the phones it uses, but every champion brand is foreign. A new Rs 62,500 crore Mobile Phone Manufacturing Scheme (FY2026-31) hands local firms up to 5% incentives on sales, another 3% for Indian design and R&D, and 1.5% for domestic sourcing of key parts. Electronics minister Ashwini Vaishnaw wants a first strong indigenous brand by mid-2027. The definition mattersthough: ownership, IP and management control must all be Indian.