Government approves 42 telecom equipment makers under Production Linked Incentive scheme
Of these selected firms, 17 have applied for additional incentive of 1% under design-led manufacturing criteria.“The Ministry of Communications granted approval to 42 companies including 28 MSMEs under the PLI scheme for telecom and networking products,” said the ministry in a statement.
The ministry said these companies have committed investment of Rs 4,115 crore and expected to generate more than 44,000 jobs over the scheme period. The selected companies under the scheme include global majors like Samsung, Nokia, Jabil, Rising Star, Flextronics as well as local players like HFCL, ITI, VVDN, Tejas Networks, etc.
In budget 2022-23, the government had announced a design-led PLI scheme for telecom and networking products. It provided additional incentive of 1% 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 April 1, 2022.
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The government also announced that existing firms under the PLI scheme were allowed to add more products. “They were also given the benefit of shifting their five-year PLI scheme period by one year. 22 companies availed this opportunity of shifting their first year, which includes 13 companies who have applied as fresh applicants,” said the ministry.
Source: https://www.newindianexpress.com/business/2022/nov/01/government-approves-42-telecom-equipment-makers-under-pli-scheme-2513713.html