News Brief
Government Announces Names Of Companies Chosen For Telecom PLI: Find Full List Here
- According to DoT, the 31 candidates certified under the PLI scheme are projected to invest Rs 3,345 crore over the next four years, creating additional jobs for more than 40,000 people.
- The PLI scheme will give support for a five-year period, from FY2021-22 to FY2025-26.
Telecom tower
The Government of India has certified 31 companies under the telecom production-linked incentive (PLI) scheme on 14 October, including 16 MSMEs and 15 non-MSMEs (eight local and seven overseas companies), with an expected incremental production of Rs 1.82 lakh crore.
According to the Department of Telecommunications (DoT), the 31 candidates are projected to invest Rs 3,345 crore over the next four years, creating additional jobs for more than 40,000 people and boosting domestic R&D of new products, which might account for 15 per cent of the promised expenditure.
According to Devusinh Chauhan, Minister of State for the Ministry of Communications, the initiative will assist India to reduce its reliance on other countries for telecom and networking products imports. He also encouraged business leaders to focus on producing high-quality products and pledged to provide incentives and support to help the country become a world-class manufacturing destination.
Along with Chauhan, the launch event of the PLI Scheme for telecom and networking Products was also attended by Anita Praveen, Special Secretary and other top personnel from the Ministry of Communications' Department of Telecommunications.
Akashastha Technologies, Dixon Electro Appliances, HFCL Technologies, ITI, Neolync Tele Communications, Syrma Technology, Tejas Networks, and VVDN Technologies are the non-MSME enterprises that are eligible.
Commscope India, Flextronics Technologies (India), Foxconn Technology (India), Jabil Circuit India, Nokia Solutions and Networks India, Rising Stars Hi-Tech, as well as Sanmina-SCI India are among the non-MSME global firms that have been selected for the PLI scheme.
Coral Telecom, Ehoome IoT, Elcom Innovations, Frog Cellsat, GDN Enterprises, GX India, Lekha Wireless, Panache Digilife, Priyaraj Electronics, Sixth Energy Technologies, Skyquad Electronics and Appliances, Surbhi Satcom, STL Networks, Synegra Ems, Systrome Technologies and Tianyin Worldtech India are the MSME enterprises which received the approval.
The PLI scheme was introduced by the Department of Telecommunication with the goal of boosting domestic manufacturing of telecom and networking devices by incentivising incremental investments and turnover with a total outlay of Rs 12,195 crore.
“Telecom products play an important role in the larger vision of ‘Digital India’,” noted a PIB news release.
The scheme goes into effect on 1 April this year, and investments made by successful applicants in India between 1 April and the end of the fiscal year (FY) 2024-25 will be eligible, subject to qualifying incremental yearly levels.
The scheme will give support for a five-year period, from FY2021-22 to FY2025-26.
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