India announced 31 companies are eligible to participate in the Production Linked Incentive (PLI) Scheme for telecom and networking products.
Devusinh Chauhan, Minister of State of Ministry of Communications, launched the PLI Scheme for telecom and networking products. Anita Praveen, Special Secretary and other senior officers from Department of Telecommunications, Ministry of Communications also attended the event.
PLI Scheme in telecom sector will help in reducing India’s dependence on other countries for import of telecom and networking products.
The PLI Scheme is being launched by DoT with the objective to boost domestic manufacturing in the telecom and networking products by incentivising incremental investments and turnover with total outlay of Rs 12,195 crore.
The scheme is effective from 1st April, 2021. Investment made by applicants in India from 1st April, 2021 onwards and up to FY 2024-25 shall be eligible, subject to qualifying incremental annual thresholds. The support under the Scheme shall be provided for a period of five years, i.e. from FY 2021-22 to FY 2025-26.
As per Scheme and Scheme Guidelines, a total of 31 companies, comprising of 16 MSMEs and 15 Non-MSMEs (8 Domestic and 7 Global companies) have been found eligible and are being given approval under Production linked Incentive (PLI) Scheme of Department of Telecommunications (DoT), Ministry of Communications. The eligible MSME companies are:
Lekha Wireless Solutions
Sixth Energy Technologies
Skyquad Electronics and Appliances
Tianyin Worldtech India
The eligible domestic companies under Non MSME category are
Dixon Electro Appliances
Neolync Tele Communications
The eligible global companies under Non MSME category are
Flextronics Technologies India
Foxconn Technology India
Jabil Circuit India
Nokia Solutions and Networks India
Rising Stars Hi-Tech
These 31 applicants are expected to invest Rs 3345 crore in the next 4 years and generate incremental employment of more than 40,000 people with expected an incremental production of around Rs 1.82 Lakh Crore over the scheme period. The scheme is expected to boost domestic Research & Development of new products on which 15 percent of the committed investment could be invested.