Nokia, Samsung, Sanmina And Tejas Networks Among 42 Companies Approved For Telecom Products PLI Scheme
Mobile Towers (Representative Image)The Ministry of Communications has granted approval to 42 companies including 28 MSMEs under PLI Scheme for telecom and networking products, an official release said on Monday (31 October).
Out of the 42 companies, 17 firms have applied for additional incentive of 1 per cent under design-led manufacturing criteria, the Ministry of Communications said in the release.
"These 42 companies have committed investment of Rs 4,115 crores. This is expected to generate additional sales of Rs 2.45 Lakh crores and create additional employment of more than 44,000 over the scheme period," the ministry said.
To create a robust domestic value chain, the government has announced design-led PLI Scheme for telecom and networking products in the Union budget of FY2022-23.
The scheme provided additional incentive of 1 per cent over and above the existing incentives for products that are designed and manufactured in India.
Design-led PLI scheme was launched in June 2022 and applications were invited from design-led manufacturers as well as others, for availing incentive under the PLI Scheme for five years commencing from 1 April 2022.
The existing companies under PLI scheme for telecom and networking products were allowed to add more products and apply under design led PLI scheme.
They were also given the benefit of shifting their 5-year PLI Scheme period by one year.
Around 22 companies availed this opportunity of shifting their first year which includes 13 firms who have applied as fresh applicants, the ministry said.
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.
