The Department of Telecom has approved 31 proposals involving an investment of Rs 3,345 crore in four and a half years. The Department of Telecommunications has notified the PLI scheme for Telecom and Networking products on 24 February 2021 with a financial outlay of Rs 12,195 crore over five years.
The DoT on Thursday gave its nod to 31 proposals involving an investment of Rs 3,345 crore over the next four and a half years. Giving information about this, Minister of State for Communications Devusinh Chouhan said, “Investment of Rs 3,345 crore in the next 4.5 years is just the beginning. The government is encouraging the industry.”
Companies selected for the PLI plan include Nokia India, HFCL, Dixon Technologies, Flextronics, Foxconn, Coral Telecom, VVDN Technologies, Akashastha Technologies, and GS India.
The Department of Telecommunications has notified the PLI scheme for telecom and networking products on February 24, 2021, with a financial outlay of Rs 12,195 crore over five years. The plan for telecom gear manufacturing in India is expected to stimulate the production of equipment worth Rs 2.44 lakh crore and generate direct and indirect employment for about 40,000 people. Rajesh Tuli, Managing Director, Coral Telecom said, “This is the first scheme among all PLI schemes, which includes MSMEs.”
What is PLI Scheme
The PLI scheme has been started by the Central Government to promote manufacturing activities in the country. Under this scheme, companies will be provided financial assistance for setting up and exporting their units in India. Under this scheme, an incentive of Rs 1.46 lakh crore will be given to the production companies in the next five years. The benefit of the PLI scheme will be given to sectors such as automobiles, networking products, food processing, chemistry, telecom, pharma, and solar PV manufacturing.
Under this, an incentive scheme of Rs 12,195 crore has been prepared to promote manufacturing activities in the telecom sector. On Thursday, the DoT gave its approval to 31 proposals involving an investment of Rs 3,345 crore in the next four and a half years.