India\u2019s mobile output is seeing a significant surge, with the country\u2019s manufacturing sector witnessing a substantial growth of 33 times compared to last year. The latest data from the Ministry of Commerce and Industry reveals that India has become one of the world\u2019s leading mobile manufacturers, producing over Rs 62,500 crores worth of mobile handsets in 2022-23.

This impressive growth can be attributed to the government\u2019s ambitious PLI (Production-Linked Incentive) scheme 2.0, which aims to boost the country\u2019s manufacturing capabilities and encourage more investment in the sector. The scheme provides incentives to companies that invest in setting up new mobile manufacturing units in India.

The PLI 2.0 scheme has indeed opened a new chapter for Indian mobile manufacturers, enabling them to compete with global giants like Samsung, Apple, and Huawei. Two stocks in particular have benefited from this scheme: Foxconn, the Taiwanese electronics giant, and Wistron, a Taiwan-based contract manufacturer.

Foxconn, which has set up two new mobile manufacturing units in Tamil Nadu, is expected to benefit significantly from the PLI 2.0 scheme. The company\u2019s investment of over Rs 1,800 crore will enable it to produce over 100 million smartphones per year, making it one of the largest mobile manufacturers in India.

Wistron, on the other hand, has established a new mobile manufacturing unit in Andhra Pradesh, with an initial investment of over Rs 2,000 crore. The company plans to produce over 50 million smartphones per year from this unit, further solidifying its position as one of the leading contract manufacturers in India.

While the PLI 2.0 scheme has been instrumental in boosting India\u2019s mobile manufacturing sector, there are concerns about the country\u2019s dependence on imports and the impact of global trends on local production.

The Indian government has taken steps to address these concerns by promoting the use of domestic components in mobile handsets and encouraging local manufacturing. The PLI 2.0 scheme aims to achieve this goal by providing incentives for companies that invest in setting up new mobile manufacturing units in India.

In conclusion, India\u2019s mobile output is set to disrupt the industry with the government\u2019s ambitious PLI 2.0 scheme. With Foxconn and Wistron leading the charge, Indian mobile manufacturers are poised to become major players in the global market.