- Swaminathan S Anklesaria Aiyar
- THE ECONOMIC TIMESUpdated: May 04, 2023, 20:59 IST IST
The production-linked incentive scheme has provided a big boost to the mobile manufacturing sector. PLI is a cost, but is a worthwhile incentive if limited to five years
In 2017-18, India imported $21bn of cellphones and components, and exported just $1.1bn, for a net sectoral trade deficit of $20bn. But exports have since soared, while imports have been muted. This March, exports actually exceeded imports by $239mn, according to calculations from commerce ministry data by economist Rahul Chauhan. This is a phenomenal reversal.
For the full year 2022-23, the trade deficit in cellphones was $3.6bn. This looked like a huge improvement over the $20bn deficit five years earlier. But none could have expected this to turn into a net surplus by March.
For the full year 2022-23, the trade deficit in cellphones was $3.6bn. This looked like a huge improvement over the $20bn deficit five years earlier. But none could have expected this to turn into a net surplus by March.
