Telecom Giants Nokia, Samsung Invest Rs 1,181 Cr In PLI Scheme
(MENAFN- KNN India)
Telecom giants Nokia, Samsung invest Rs 1,181 cr in PLI scheme New Delhi, Mar 9 (KNN) The production linked incentive (PLI) for Telecom equipment manufacturers managed to attract Rs 1,181.25 crore investment from big companies such as Samsung, nokia and Jabil invested Rs 1,181.25 crore in the country.
Till January 31, 2023 these investments generated products with sales value of Rs 13,541 crore, as per the figures released by the Department of telecommunication (DoT).
The scheme, which was notified in 2021, also gave employment to 11,000 people in the telecom sector.
Equipment worth Rs 5,746 crore as well as products worth Rs 7,794 crore were utilised in the country.
“With the launch of 5G in India in October 2022 by the Prime Minister Narendra Modi, the telecom sector is witnessing a capital expenditure cycle with investment of more than Rs 1.5 lakh crore expected in 2023. Therefore, the actual result or success of the scheme will be shown this year,” said an official from DoT.
Commerce Ministry data suggests the country exported telecom instruments worth Rs 80,490 crore from April 2022 to January 2023.
It is up 90 per cent yearly. However, the country imported electronic instruments worth Rs 109,007 crore for the same period.
The official also added that among the companies, Swedish equipment manufacturer Nokia exported the highest amount of equipment to Europe.
(KNN Bureau)
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