Challenges Persist for Indian Smartphone Manufacturers in FY24 Under PLI Scheme

In the realm of Indian smartphone production, entities like Lava and Bhagwati (commonly known as Micromax) grapple persistently

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Lava’s co-founder, SN Rai, acknowledges that the company missed its incremental production targets under the PLI scheme in FY23.

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Industry experts express pessimism regarding other local companies such as Bhagwati Products, the manufacturer of Micromax smartphones.

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The 3W sector maintained its robust performance, with successive record-breaking retail sales.