The Department of Telecommunications had notified the PLI scheme for telecom and networking products on 24 February 2021.
The government intends to attract global companies in the domestic manufacturing sector through the PLI scheme.
Telecom equipment companies Ericsson and Nokia have expressed their desire to expand their operations in India. Global companies like Samsung, Cisco, Siena and Foxconn have shown interest in manufacturing telecom and networking products for domestic market and export in India.
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Telecom PLI has already received approval“The government has already approved the Telecom PLI,” said an official. The Department of Telecommunications is ready for implementation with guidelines, application format and incentive allocation. It will be published on the website of the Department of Telecommunications in a week.
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The scheme is expected to get an investment of over Rs 3,000 crore
The Department of Telecommunications had notified the PLI scheme for telecom and networking products on 24 February 2021. Under this, Rs 12,195 crore will be spent in five years. Manufacturing of equipment worth Rs 2.44 lakh crore is expected under the telecom equipment manufacturing scheme in India. This will provide direct and indirect employment to about 40,000 people. An investment of more than Rs 3,000 crore is expected from this scheme. This will also generate tax revenue of about 17,000 crore rupees.