Budget 2023: Phone manufacturers eye PLI for component manufacturing

The Indian smartphone market is set to mark either low single-digit growth or a second year of contraction in shipments in 2023, as per analysts. They say telcos and smartphone brands will work together to push feature phone-to-smartphone conversion to push sales.




"With the upcoming budget, we hope to see an affirmative move to foster a vibrant local component supply chain ecosystem. This in turn will help India become self-sufficient and provide the right impetus to make India a trillion-dollar digital economy," says Muralikrishnan B, President of Xiaomi India