Telecom PLI: Participants Have Produced Equipment Over Rs 6000 Cr

- Advertisement -
- Advertisement -

More than 35 firms had shown interest in investing approx. Rs 4500 crore under the production linked incentive (PLI) scheme for telecom gear manufacturing. The government of India, under the scheme, had originally envisaged to attract investments of about Rs 3000 crore

Telecom equipment makers have produced equipment worth over Rs 6000 Cr since the launch of Production Linked Incentive Scheme (PLI) for telecom products. A report by the Economic Times noted that this feat was achieved with an investment of Rs 247 Cr from these manufacturers. These investments include Rs 9.7 Cr from MSMEs, Rs 86 Cr from large Indian manufacturers, and a mammoth Rs 151 Cr investment from MNCs.

The MNCs have produced telecom equipment worth over Rs 5,471 Cr, while the Indian large players have produced telecom equipment of Rs 641 Cr. Indian MSMEs have produced these worth value of Rs 122 Cr. It is also to be noted here that a number of companies participating in the PLI had last year requested the Telecom department to extend the target meeting guidelines by a year. However both Nokia and Ericcson were on track to meet these targets.

- Advertisement -

More than 35 firms had shown interest in investing approx Rs 4500 crore under the production linked incentive (PLI) scheme for telecom gear manufacturing. The government of India, under the scheme, had originally envisaged to attract investments of about Rs 3000 crore. The scheme stipulates a minimum investment threshold of Rs 10 Crores for MSME and Rs 100 Crores for non-MSME applicants.

As per the guidelines, investments made by successful applicants in India from April 1, 2021, onwards and up to FY 2024-2025 shall be eligible for the scheme, subject to qualifying incremental annual thresholds. The support under the scheme shall be provided for a period of five years, i.e. from FY 2021-22 to FY 2025-26.

DoT has said that the PLI Scheme will be implemented within the overall financial limits of Rs 12,195 Crores for implementation of the scheme over a period of 5 years. The scheme was open to both MSME and Non-MSME companies including domestic and global Companies.

Devusinh Chauhan, Minister of State of Ministry of Communications, had earlier said that PLI Scheme in telecom sector has been launched to realize the Prime Minister’s vision of Atmanirbhar Bharat. It will help in reducing India’s dependence on other countries for import of telecom and networking products. He called upon the industry leaders to focus on making high quality products and expressed the commitment to provide incentives and support to promote world class manufacturing in the country.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

Indian PC Market Grows 4% In Q4 2023, Local Manufacturing Efforts Ramp Up

0
IT procurement by enterprises and SMBs, delayed in the first half of 2023, is starting to take place and is expected to accelerate...

“Efficiency In Solar Energy Is More About Investment Rationale Than Resource Limitation”

0
Indian utility-scale solar company SolarArise claims to offer investors long-term, cash-generating assets and anticipates advancements in energy storage technologies to enable 24-hour clean power...

A New Form Factor Of Two Wheelers Takes Shape In India

0
The logistics sector has become India's biggest adopter of electric vehicles. However, attrition due to physical and mental fatigue is alarming for lease and...

Buzz

Blackwell architecture, NVIDIA

What did NVIDIA Announce in its Annual Conference?

0
At its annual developers conference, NVIDIA made a load of new announcements. From unveiling its Blackwell chips to flagging off project GR00T and major...

TPEM And HPCL Team Up To Enhance EV Charging Infrastructure

0
The collaboration seeks to enhance the experience of electric vehicle owners in India and promote greater adoption of electric vehicles among the population. Tata Passenger...

Suzuki Makes Investment In IoT Expert Soracom

0
Key areas of interest include globally-marketed electric vehicles, modular 'mobility base units', and innovative technologies and services to achieve carbon neutrality. Just a month after...

Important Sectors

TPEM And HPCL Team Up To Enhance EV Charging Infrastructure

0
The collaboration seeks to enhance the experience of electric vehicle owners in India and promote greater adoption of electric vehicles among the population. Tata Passenger...

Suzuki Makes Investment In IoT Expert Soracom

0
Key areas of interest include globally-marketed electric vehicles, modular 'mobility base units', and innovative technologies and services to achieve carbon neutrality. Just a month after...

EDAG, Baier Motors Develop Electric Motorcycle for Africa

0
The Oryx Concept motorcycle, a collaboration between EDAG Group and start-up Baier Motors, is designed to meet the increasing demand in Africa for a...

MNRE Announces Minimum Efficiency Criteria For Thin Film Solar

0
Utility grid- scale power plants using CdTe should have efficiency of 19%.  For rooftop and solar pumping applications efficiency requirement is 18.5% and...

BYD Achieves 7 Million New Energy Vehicles, Last Million In 4 Months

0
BYD has become the first in the world to produce seven million new energy vehicles (NEVs), with the most recent million being manufactured in...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...