New Delhi: Minister of State Communications, Devusinh Chauhan, on Thursday launched the Production Linked Incentive (PLI) Scheme for Telecom and Networking Products, as per press release.
The Rs 12,195-crore scheme aims to boost local production of telecom equipment, reduce dependency on imports and make India a global manufacturing hub by incentivising companies making in India. The scheme is effective and investment made by successful applicants in India from April 1, 2021 onwards and up to FY 2024-25 shall be eligible. The support under the Scheme shall be provided for a period of five years, i.e. from FY 2021-22 to FY 2025-26.
As per Scheme Guidelines, a total of 31 companies, comprising of 16 MSMEs and 15 Non-MSMEs among them 8 Domestic and 7 Global companies have been found eligible and are being approved the Production linked Incentive (PLI) Scheme of the Department of Anita Praveen, Special Secretary, and other senior officers from the Department of Telecommunications, Ministry of Communications also attended the event.
Speaking at the occasion, Chauhan said that "PLI Scheme in the telecom sector has been launched to realize the Prime Minister’s vision of Atmanirbhar Bharat. It will help in reducing India’s dependence on other countries for the import of telecom and networking products." He called upon the industry leaders to focus on making high-quality products and expressed the commitment to provide incentives and support to promote world-class manufacturing in the country.
Also Read: PLI scheme to benefit domestic auto, parts industries in multiple ways: Report
As per commitments given by applicants, the 31 applicants are expected to invest Rs 3345 crores in the next 4 years and generate incremental employment of more than 40,000 people with expected incremental production of around Rs 1.82 lakh crore over the scheme period. The scheme is expected to boost domestic Research & Development of new products on which 15 per cent of the committed investment could be invested.
The enthusiastic response to the scheme by domestic and global manufacturers indicates strong confidence in the “Atmanirbhar Bharat” - Make in India and achievement of scheme objective of creating global champions out of India who has the potential to grow in size and scale using cutting edge technology and thereby penetrate the global value chains. Telecom products play an important role in the larger vision of “Digital India”.
