As many as 31 companies comprising 16 MSMEs and 15 Non-MSMEs were given approval under the Production Linked Incentive, PLI Scheme for promoting telecom and networking products manufacturing in India. The companies are expected to invest 3, 345 crore rupees in the next four years aiming at generating incremental employment of more than 40 thousand people. Minister of State for Communications Devusinh Chauhan today launched the scheme for Telecom and Networking Products.
Speaking at the occasion, Mr Chauhan said that the telecom sector scheme 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 import of telecom and networking products. He called upon the industry leaders to focus on making high quality products. Mr Chauhan expressed commitment to provide the incentives and support to promote world class manufacturing in the country.
The PLI Scheme is being launched by Department of Telecommunications with the objective of boosting the domestic manufacturing in the sector and networking products by incentivising incremental investments and turnover with total outlay of 12 thousand 195 crore rupees. The scheme is effective from 1st April this year. The support under the Scheme will be provided for a period of five years, from 2021-22.