Ministry of Communication launches production-linked incentive for telecommunications sector

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New Delhi [India], Oct. 15 (ANI): The Communications Ministry on Thursday launched a production-linked incentive program (PLI) for telecommunications and networking products.

The device was launched by Devusinh Chauhan, Minister of State for Communication.

Speaking on the occasion, Chauhan said that the PLI program in the telecommunications sector was launched to realize the vision of Prime Minister of Atmanirbhar Bharat.

“This will help reduce India’s dependence on other countries for importing telecommunications and networking products. He called on industry leaders to focus on manufacturing high quality products and expressed their commitment to provide incentives and support to promote world class manufacturing in the country, ”he said. , according to the press release from the Ministry of Communication.

The PLI program is initiated by DoT with the aim of boosting domestic manufacturing of telecommunications and networking products by inducing incremental investment and turnover with a total expenditure of Rs 12,195 crore. The system is effective from April 1, 2021.

“Investments made by successful applicants in India from April 1 through FY2024-25 will be eligible, subject to annual graduated qualifying thresholds. Support under the program will be provided for a period of five years. , that is to say from fiscal year 2021-22 to fiscal year 2025-2026 “, reads the press release.

In accordance with the program and program guidelines, a total of 31 companies, comprising 16 MSMEs and 15 non-MSMEs (8 domestic companies and 7 global companies) have been deemed eligible and are receiving approval under the related incentive program. to the production (PLI) of the Department of Telecommunications (DoT), Ministry of Communications.

In accordance with the commitments made by the applicants, these 31 applicants are expected to invest Rs 3,345 crore over the next 4 years and generate additional jobs of over 40,000 people with an expected additional output of around Rs 1.82 crore lakh during the program period. The program is expected to stimulate national research and the development of new products on which 15 percent of the committed investment could be invested, the statement said. (ANI)


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