Govt approves Nokia, Samsung, 40 others under PLI scheme for telecom products
The companies have committed investments of ₹4115 crore and 17 companies have applied for additional incentive of 1% under design-led manufacturing criteria
PremiumNew Delhi: The communications ministry granted approval to 42 companies including Nokia, Samsung, Ericsson’s partner Jabil, Flextronics, Tejas Networks, VVDN and HFCL, under the production linked incentive (PLI) scheme for telecom and networking products. The companies have committed investments of ₹4115 crore.
Out of the total approved, 17 companies have applied for additional incentive of 1% under design-led manufacturing criteria.
“This (investment) is expected to generate additional sales of ₹2.45 trillion and create additional employment of more than 44,000 over the scheme period," the ministry said in a statement Monday. “India is poised to emerge as design and manufacturing hub for telecom and networking equipment," the government added.
The Union Budget had announced a design-led PLI scheme for telecom and networking products, to create a robust domestic value chain, which provided an 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 1 April 2022.
The existing companies under PLI scheme for telecom and networking products were allowed to add more products and apply under design led PLI scheme. They were also given the benefit of shifting their five -year PLI scheme period by one year.
The ministry added that 22 companies availed this opportunity of shifting their first year which includes 13 companies who have applied as fresh applicants.
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