Government's Rs 12,195 crore production linked incentive (PLI) scheme for telecom gear manufacturing space has received a thumping response with around 25 Indian and foreign companies have already applied to benefit from it, Livemint.
Under the scheme, an investor can get the incentive for incremental sales up to 20 times the committed investment, enabling them to reach global scales and utilise their unused capacity and ramp up production. The deadline to apply under the scheme is 3 July.
Nokia, HFCL, Coral Telecom are among the players that have already put in their applications for participation in the scheme. Meanwhile, Tejas Networks, Dixon Technologies and state-owned ITI Limited are all in the process of applying for the scheme.
The scheme is expected to bring an investment of over Rs 3,000 crore and generate tax revenue of about Rs 17,000 crore for the Government. The Government expects that the scheme will encourage the production of equipment worth Rs 2.44 lakh crore, with exports of around Rs 2 lakh crore over a period of five years.
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.