New Delhi: Telecom Department on Thursday approved 31 proposals that require an investment of Rs 3,345 Crore for the next four and a half years.
“Investment in Rs 3,345 Crore in the next 4.5 years is only the beginning.
The government helps you (industry players) as a catalyst,” said Minister of Communication Minister Devusinh Chauhan.
The company chosen for the PLI scheme includes Nokia India, HFCL, Dixon technology, Flextronics, Foxconn, Coral Telecom, VVDN Technologies, Akashastha Technologies, and GS India.
Dot told the PLI scheme for telecommunications and network products on February 24, 2021, with financial expenses of Rs 12,195 Crore, for five years.
Schemes for telecommunications telecommunications manufacturing in India are expected to encourage equipment production worth Rs 2.44 lakh crore and create direct and indirect work for around 40,000 people.
Investors can obtain incentives for gradual sales of up to 20 times investments that are committed, allowing them to achieve a global scale and utilize their capacity that is not used and increase production.
“This is the first scheme among all the PLI schemes, which include MSMEs.
Without this, we will be defective,” said Coral Telecommunications Managing Director Rajesh Deaf.