The Ministry of Communication has authorised 42 companies, including 28 MSMEs for telecom and networking products under the production-linked incentive (PLI) scheme.
Global firms including Samsung, Nokia, Jabil, Rising Star, Flextronics and local players such as HFCL, ITI, VVDN, and Tejas Networks were approved under the scheme
The Ministry of Communication has authorised 42 companies, including 28 MSMEs for telecom and networking products under the production-linked incentive (PLI) scheme.
Global firms including Samsung, Nokia, Jabil, Rising Star, Flextronics and local players such as HFCL, ITI, VVDN and Tejas Networks were approved under the scheme.
According to a report by the Economic Times, of the selected firms, 17 companies have applied for an additional incentive of 1% under design-led manufacturing criteria.
A total of Rs. 4,115 crore investment has been committed by these 42 firms, which is likely to generate more than 44,000 extra jobs in addition to an increase in revenue of Rs 2.45 lakh crore during the scheme period.
Union Budget of FY2022-23 introduced a design-led PLI plan for telecom and networking products in order to build a strong domestic value chain, which provides an extra incentive of 1% in addition to the existing incentives for goods which are manufactured and designed in India.
In June this year, the Department of Telecom launched an incentive scheme for design-led manufacturers and extended the duration of the Rs 12,195 crore production-linked incentive (PLI) scheme by a year.