The Ministry of Communication has launched the Production Linked Incentive (PLI) Scheme for Telecom and Networking Products on October 14, 2021. The Scheme will be effective from 1st April, 2021 and seeks to boost domestic manufacturing in the telecom and networking products by incentivising incremental investments and turnover with total outlay of ₹ 12,195 crore.
The Investments made by successful applicants in India from 1st April, 2021 onwards and up to FY 2024-25 shall be eligible, subject to qualifying incremental annual thresholds. The support under the Scheme shall be provided for a period of five (5) years, i.e. from FY 2021-22 to FY 2025-26.
The scheme is expected to boost domestic Research & Development of new products on which 15% of the committed investment could be invested. As per Scheme and Scheme Guidelines, a total of 31 companies, comprising of 16 MSMEs and 15 Non-MSMEs (8 Domestic and 7 Global companies) have been found eligible and are being given approval under Production linked Incentive (PLI) Scheme of Department of Telecommunications (DoT), Ministry of Communications.
Source: Press Information Bureau
*Tanvi Singh, Editorial Assistant has reported this brief.