New Delhi The government has approved 42 companies, and received investment commitments, for the Production Linked Incentive (PLI) scheme for telecom and networking products. 4,115 crores.
According to the Ministry of Communications, all companies will get 4-7% incentive on incremental sales of manufactured goods, while 17 firms applied for an additional 1% incentive for design-based manufacturing, which will get 5-8% incentive. The companies include Nokia, Samsung, Ericsson’s partner Jabil, Flextronics, Tejas Networks, VVDN and HFCL. “It (investment) is expected to generate additional sales of 2.45 trillion and create 44,000 additional jobs over the plan period,” the ministry said in a statement on Monday. “India is poised to emerge as a design and manufacturing hub for telecommunications and networking equipment.”
Finance Minister Nirmala Sitharaman in her budget had announced a design-based PLI scheme for telecom and networking products to create a strong domestic value chain, with an additional 1% over and above the existing incentives for products designed and manufactured in India. incentive was provided. The design-led PLI scheme was launched in June and applications were invited to receive the benefits for five years starting 1 April. Under the PLI scheme for telecom and networking products, existing firms were allowed to add products and apply for design-based incentives, besides extending the five-year period by one year.
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