The government has today approved Production Linked Incentive (PLI) scheme with a budgetary outlay of Rs 12,195 crore to promote manufacturing of telecom and networking products in India. The scheme will also encourage exports of telecom and networking products ‘Made in India’.
“Support under the scheme will be provided to companies/entities engaged in manufacturing of specified telecom and networking products in India. Eligibility will be further subject to achievement of a minimum threshold of cumulative incremental investment over a period of four years and incremental sales of manufactured goods net of taxes (as distinct from traded goods) over the Base Year 2019-2020. The cumulative investment can be made at one go, subject to annual cumulative threshold as prescribed for four years being met,” the cabinet said in a press release. Also Read: Amazon India to start its first manufacturing facility in Chennai
In continuation of “Atmanirbhar Bharat-Strategies for enhancing India’s Manufacturing capabilities and enhancing exports”, this scheme is part of the umbrella scheme approved by the cabinet in November 2020 for implementation of PLI under various Ministries/ Departments including Department of Telecommunications (DoT), the release added.
With this scheme, India will be well positioned as a global hub for manufacturing of telecom and networking products. It is expected that scheme will bring more than Rs 3,000 crore investment and generate huge direct and indirect employments, the release said. Also Read: India plans sustained human presence in space with proper framework