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- A Total Of 31 Companies, Including 8 Domestic Companies Selected By The Government; Expected To Invest More Than Rs 3,300 Crore
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The names of the companies to which the government will give the benefit of Production Linked Incentive (PLI) scheme for making telecom equipment have been announced. 36 companies had applied for incentives under this scheme, out of which 31 companies including 8 domestic companies have been approved.
16 MSMEs got approval under PLI scheme
Foxconn, Flextronics, Nokia, Jabil, Rising Star, Dixon Technologies, VVDN Technologies, HFCL, Tejas Networks are among the 31 companies that have been approved under the PLI scheme to manufacture telecom, networking products. The benefit of this scheme will also be given to 16 MSMEs.
Global companies include Flextronics, Foxconn, Nokia
Global companies selected for the PLI scheme include Comscope India, Flextronics, Foxconn India, Jabil, Nokia, Rising Stars, Sunmina-SCI India. In the non-MSME segment, Akashastha Tech, Dixon, HFCL Tech, ITI Limited, Neolink Telecom, Sirma Tech, Tejas Network VVDN Tech have got approval.
A total of 16 companies were selected in the MSME category.
Eligible MSMEs include Coral Telecom, Ehum IoT, Elcom Innovations, Frog Cellsat, GDN Enterprises, GX India, Lekha Wireless Solutions, Panache DigiLife, Priyaraj Electronics, Sixth Energy Technologies, Skyquad Electronics, STL Networks, Surbhi Satcom, Sinegra EMS, Systrom Technologies and Tiennin Worldtech.
More than 40,000 jobs potential in 5 years
The government estimates that these companies can invest more than Rs 3,345 crore under the PLI scheme. The investment of these companies can lead to additional production of about Rs 1.80 lakh crore in the next five years. The biggest thing is that it can create more than 40,000 new jobs in the next 5 years.
Will help in starting 5G network across the country
Under the PLI scheme of the telecom sector, the emphasis will be on making core transmission equipment, radio access networks of 4G or 5G and wireless equipment, Internet of Things, telecom switches and routers etc. in the country. These can help in starting 5G network across the country soon.
Incentive between 4 to 7%, 1% extra to MSME
The government is going to spend Rs 12,195 crore on this scheme. Under this scheme, incentives between 4% to 7% will be given in many categories. The government has taken special measures in the PLI scheme to promote small-medium enterprises (MSMEs). They will be given 1% more incentive for the first three years.
Notification for the scheme was issued on 24 February
DoT had announced the PLI scheme for telecom and networking products on February 24 this year. According to the government, under this, equipment worth Rs 2.44 lakh crore can be produced in the next five years.
Non MSMEs will invest at least 100 crores
According to the notification of the Department of Telecom, MSMEs will have to invest at least Rs 10 crore to get the benefit of the scheme. Its minimum limit has been kept at Rs 100 crore for the applicants of non MSME segment.