India's Telecom Equipment Manufacturing Passes Rs 50,000 Cr Mark Under PLI Scheme

(MENAFN- KNN India) New Delhi, Jul 10 (KNN) In a significant milestone for India's telecommunications sector, sales of domestically manufactured Telecom equipment have crossed the Rs 50,000 crore mark under the Production Linked Incentive (PLI) scheme.

This achievement, announced by the Ministry of Communication, underscores the success of government initiatives aimed at boosting local manufacturing and reducing import dependence.

The telecom PLI scheme has demonstrated remarkable success, attracting Rs 3,400 crore in investments within just three years of its inception. This influx of capital has significantly bolstered the country's manufacturing capabilities in the telecom sector.

Alongside the growth in domestic production, exports of telecom equipment have also seen a substantial rise, reaching approximately Rs 10,500 crore. This increase in exports highlights India's growing competitiveness in the global telecom equipment market.

The scheme's impact on employment has been equally impressive, with the creation of over 17,800 direct jobs. Additionally, numerous indirect employment opportunities have been generated across the manufacturing value chain, contributing to overall economic growth.

One of the most significant outcomes of the PLI scheme has been the reduced reliance on imported telecom equipment. Domestic production has led to a 60 per cent decrease in dependence on imports, enhancing both national security and self-reliance in critical technologies.

The telecom equipment manufacturing sector has shown exceptional growth under the PLI scheme, with total sales exceeding Rs 50,000 crore.

This represents a staggering 370 per cent increase compared to the base year of FY 2019-20, demonstrating the rapid pace of growth in the sector.

The success extends to mobile phone manufacturing as well. In 2023-24, India produced 33 crore phones domestically, exporting nearly 5 crore units. This marks a substantial shift from 2014-15 when the country produced only 5.8 crore phones and imported 21 crore units.

Minister of Communications and Electronics, Ashwini Vaishnaw, highlighted the sector's progress on social media, emphasising the reduction in trade deficit for telecom products from Rs 68,000 crore to Rs 4,000 crore over the past five years.

This transformation aligns with Prime Minister Narendra Modi's vision of 'Atmanirbhar Bharat' (Self-reliant India) and positions the country as an emerging global hub for telecom equipment production.

(KNN Bureau)


KNN India

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