Chaini Parwani –
Published On: October 14, 2021 at 15:56 IST
The Department of Telecom on Thursday permitted a total of 31 proposals assuming an investment of Rs. 3,345 crore over the duration of the next four and a half years.
Minister of State for Communications Devusinh Chauhan stated “The investment of Rs 3,345 crore in the next 4.5 years is just a beginning. Government is helping you (industry players) as a catalyst,”
The companies chosen for the PLI scheme involve Nokia India, HFCL, Dixon Technologies, Flextronics, Foxconn, Coral Telecom, VVDN Technologies, Akashastha Technologies, and GS India.
The DoT informed the PLI scheme for telecom and networking products on February 24, 2021, with a financial expenditure of Rs. 12,195 crore, over the five years.
The scheme for telecom gear manufacturing in India is expected to stimulate the production of equipment worth Rs. 2.44 lakh crore and develop direct and indirect employment for about 40,000 people.
The investors can gain an inducement for incremental sales up to 20 times the committed investment, authorizing them to reach global scales and promote their unused capacity and ramp up production.
Coral Telecom managing director Rajesh Tuli stated “This is the first scheme among all PLI schemes, which includes MSMEs. Without this, we would have been handicapped.”