The government on Thursday approved 31 enterprises comprising 16 medium and small enterprises (MSMEs) and 15 non-MSMEs (8 national enterprises and 7 global enterprises) under the PLI telecommunications program, and expects additional production of about 1.82 lakh crore.
According to the Ministry of Telecommunications, the 31 candidates are expected to invest 3,345 crore over the next four years and generate additional jobs for more than 40,000 people and stimulate domestic research and development (R&D) of new products, of which 15% the investment made could be invested.
“This will help reduce India’s dependence on other countries for importing telecommunications and networking products. The government is helping you (industry players) as a catalyst, ”said Devusinh Chauhan, Minister of State at the Ministry of Communications.
He also urged 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.
Domestic companies eligible for the non-MSME category include Akashastha Technologies, Dixon Electro Appliances, HFCL Technologies, ITI, Neolync Tele Communications, Syrma Technology, Tejas Networks and VVDN Technologies.
Eligible non-MSME global companies (their Indian affiliates) that have been selected for the PLI program include Commscope India, Flextronics Technologies (India), Foxconn Technology (India), Jabil Circuit India, Nokia Solutions and Networks India, Rising Stars Hi-Tech and Sanmina-SCI India.
MSME companies include Coral Telecom, Elcom Innovations, Frog Cellsat, GDN Enterprises, GX India, Lekha Wireless, STL Networks, Synegra Ems, Systrome Technologies and Tianyin Worldtech India.
The PLI program was launched by the DoT on February 24, with the aim of boosting domestic manufacturing of telecommunications and networking products, with a financial expenditure of Rs 12,195 crore over five years.
The program is effective from April 1 of this year and investments made by successful applicants in India from April 1 through FY 2024-25 will be eligible, subject to eligible incremental annual thresholds. , the DoT said.
Support under the program will be provided for a period of five years – from fiscal year 2021-22 to fiscal year 2025-26 – he added.
- Hackers Use ShellClient Stealth Malware on Aerospace and Telecom Companies
- The moratorium on telecom contributions leaves time to transform and repair: Deloitte India
- Apple’s patent for a curved iMac has been approved
- Bharat BillPay Joins BSNL as Leading Telecom Operator in Mobile Prepaid Top-Up Category
- SIM card exchanger indicted in cryptocurrency theft scheme