Domestic telecom gear makers Indian equipment manufacturers like HFCL and Coral Telecom have also registered for the telecom PLI scheme
29 electronic manufacturing companies including Foxconn, Flex, Jabil Circuit and Sanmina SCI have reportedly applied for the 2s 12,195 crore PLI scheme for telecom equipment manufacturing.
A PTI report said while citing sources that Taiwanese contract manufacturer Foxconn and its subsidiary Rising Stars Mobile have registered for the scheme separately with Small Industries Development Bank of India (SIDBI), which is the project management agency of the scheme.
Pune’s Jabil Circuit makes telecom gears for Ericsson in India but the Swedish firm has not registered yet, as per the report.
Domestic telecom gear makers Indian equipment manufacturers like HFCL and Coral Telecom have also registered for the telecom PLI scheme. ITI Limited, Dixon Technologies, Tejas Networks are also planning to register and apply for the scheme.
Finnish telecom giant Nokia had also previously announced that it would be participating in the PLI scheme.
South Korean conglomerate Samsung, on the other hand, has said that it is not participating in the telecom PLI as it is not looking to commit new investments in a market where it has only one client, the one being Reliance Jio.
The PLI scheme provides incentives to companies investing in manufacturing telecom gear in the country for incremental sales up to 20 times the committed investment, enabling it to reach global scales and utilise unused capacity and ramp up production.
The government expects the scheme to bring an investment of over Rs 3,000 crore and generate tax revenue of about Rs 17,000 crore.
Investments made by successful applicants in India from April 1, 2021, onwards and up to the financial year 2024-25 will be eligible for incentives, subject to qualifying incremental annual thresholds.