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Telecom PLI: Telecom equipment production for FY24 crossed the Rs 45,000 crore milestone with exports of around Rs 10,500 crore, backed by the Centre’s production linked incentive (PLI) scheme. The scheme has also led to creation of over 19,500 direct jobs, according to government data shared exclusively with ET. ....
The Indian government has received Rs 2,725 crore investments from 42 applicant companies under the production-linked incentive (PLI) scheme for telecom gear manufacturing, according to Devusinh Chauhan, minister of state for communications. The scheme has generated over 15,500 new jobs and exported products worth Rs 8,804 crore. The PLI scheme was launched in June 2021 and has catalyzed the production of telecom equipment in India. ....
The Department of Telecommunications (DoT) is set to disburse over Rs 400 crore in incentives in the current fiscal year to 20 companies, including Nokia, Jabil, VVDN, and HFCL, that have met production targets under the telecom gear manufacturing PLI scheme. This marks the second year of the program, and some companies will receive incentives for the first time due to their participation in the amended scheme and increased investments. ....
Under the scheme, an investor can get 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. Nokia and HFCL have shown willingness to participate in the scheme while both international and domestic players have appreciated the move. ....