Business
Make In India Success: Telecom PLI Scheme Witnesses Rs 2,419 Crore Investment And Over 17,700 Jobs Creation
An industrial and transport equipment manufacturing factory. (Representative Image)
Investment in the production-linked incentive scheme by telecom companies has surpassed Rs 2,419 crore, according to Telecom Minister Ashwini Vaishnaw.
This investment has resulted in the employment of 17,753 individuals.
In October 2022, the government selected 42 companies that pledged a total investment of Rs 4,115 crore.
These companies are expected to generate additional sales of Rs 2.45 lakh crore and create over 44,000 jobs during the six-year scheme period ending in 2025-26.
"Today, in the telecom sector, we have crossed a major milestone where PLI-supported companies have already completed an investment of Rs 2,419 crore, where the sales are at Rs 34,516 crore, exports are Rs 7,600 crore, and employment is 17,753. This is a great milestone for the telecom industry," Vaishnaw said on Tuesday.
He was speaking during the virtual inauguration of a production line to manufacture 4G and 5G connectivity modules and data cards for US-based Telit Cinterion by domestic firm VVDN.
According to Vaishnaw, the success of Make in India can be seen in the commencement of highly complex manufacturing processes and the training of young girls in handling intricate machines.
He attributed this achievement to the vision of Prime Minister Narendra Modi.
VVDN is one of the companies shortlisted under the PLI scheme.
In a veiled criticism aimed at former RBI governor Raghuram Rajan, the minister said critics of "Make In India" should visit VVDN plants to see the depth that the country is acquiring in telecom and electronics manufacturing.
A few months ago, Rajan raised concerns about the level of value addition in electronics manufacturing through a social media post.
The minister said telecom equipment was being imported into the country for a long time, and it was unimaginable to manufacture and export telecom equipment from the country.
"Today, telecom equipment manufactured in India is exported to many countries, such as the US, European countries and Japan. These are highly developed countries and we feel proud that our products are accepted as high quality in these countries. We should continuously strive to maintain the quality of the products and consistency in our production system," Vaishnaw said.
Last year, 5G was launched, and within a year, Bharat has become the third largest ecosystem for 5G in the world, he said.
"The speed at which things were done is a matter of great pride. ITU has accepted our inputs in the standardisation of 6G. This process will be further strengthened in the coming years. We are working towards positioning in India as a leading standard and IT contributor to the 6G journey," Vaishaw said.
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