Telecom PLI Scheme Spurs Rs 4,081 Crore In Investments

(MENAFN- KNN India) New Delhi, Mar 22 (KNN) The Department of Telecommunications (DoT) has announced substantial achievements under its Production Linked Incentive (PLI) scheme aimed at boosting domestic manufacturing of telecom and networking products in India.

The scheme, which was notified on February 24, 2021, has an outlay of Rs 12,195 crore.

According to a recent release, beneficiaries have made investments totaling Rs 4,081 crore as of January 31.

These investments have generated total sales of Rs 78,672 crore, including export sales worth Rs 14,963 crore. The initiative has also created employment opportunities for 26,351 individuals.

The government has implemented several revisions to the scheme guidelines to enhance domestic manufacturing capabilities and provide greater flexibility to manufacturers.

A notable addition is the introduction of a 1 percent additional incentive for products that are designed, developed, and manufactured in India, reinforcing the country's focus on design-led production.

Further amendments have expanded the approved product list with the inclusion of 11 new items based on industry requirements.

Companies now enjoy increased flexibility, allowing them to add one or more products from this list at any point during the scheme's tenure.

Additionally, manufacturers can now opt to file incentive claims on a quarterly basis.

The PLI scheme currently encompasses 33 telecom and networking products against which companies can claim incentives, as detailed in the release.

This information was provided by Dr. Pemmasani Chandra Sekhar, Minister of State for Communications And Rural Development, in a written reply in the Rajya Sabha on March 20.

(KNN Bureau)

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