Samsung Crosses the Finish Line in PLI Scheme, Set to Bag ₹1,000 Crore Incentive

Samsung has emerged as the frontrunner in India’s smartphone production-linked incentive (PLI) scheme, becoming the first company to complete the fifth-year milestone. According to reports, the South Korean electronics giant has successfully met the target of producing ₹25,000 crore worth of incremental smartphones, which now qualifies it for an incentive of over ₹1,000 crore.

This achievement marks a significant milestone under the government’s ambitious PLI program, which aims to boost local manufacturing and reduce dependency on imports. Samsung’s accomplishment demonstrates its commitment to expanding its production capabilities in India, reinforcing the country’s growing status as a global manufacturing hub.

The PLI scheme was introduced to encourage companies to scale up domestic production, offering financial rewards for meeting yearly targets. Over the years, Samsung has remained a strong participant in this scheme and has consistently ramped up its manufacturing in India.

Crossing the ₹25,000 crore target in the fifth year showcases the brand’s long-term commitment to the Indian market. This not only strengthens Samsung’s foothold in the country but also contributes to job creation and economic growth.

With Samsung finishing the PLI marathon ahead of others, it sets a benchmark for other tech giants and domestic players to follow suit. The ₹1,000 crore payout underlines the government’s push to reward consistent and large-scale manufacturing efforts.