Center gave a gift to the telecom sector! 3,345 crore PLI approved for 31 projects

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Let us inform you that a notification was issued by the Department of Telecommunications on 24 February 2021 for the PLI scheme for the companies associated with telecom and networking products. For this, a financial budget of Rs 12195 crore has been made, which will be spent in the next 5 years.

A big gift has been given to the telecom sector by the central government. 31 proposals of the telecom sector have been approved by the Department of Telecom on Thursday for the Performance Linked Incentive (PLI) scheme. This is expected to bring in an investment of Rs 3,345 crore in the next four-and-a-half years. Union Minister of State for Communications Devusinh Chouhan said during this that the investment of Rs 3,345 crore in 4.5 years is only the beginning. He said that the government is acting as a catalyst for the players of the telecom sector. In such a situation, an investment of more than Rs 3,345 crore can come in the coming few years.

These companies will get the benefit of the PLI scheme 

The companies in the telecom sector that have been selected for the PLI scheme by the government include Nokia India, HFCL, Dixon Technologies, Flextronics, Foxconn, Coral Telecom, VVDN Technologies, Akashastha Technologies, and GS India.

employment will be created on a large scale 

Let us inform you that a notification was issued by the Department of Telecommunications on 24 February 2021 for the PLI scheme for the companies associated with telecom and networking products. For this, a financial budget of Rs 12,195 crore has been made, which will be spent in the next 5 years. The central government hopes that due to the financial assistance, there will be large-scale manufacturing in India in the telecom sector. Along with this, 2.44 lakh crore rupees of equipment and 40,000 people will get direct and indirect employment in the next few years. 

These benefits will be 

The main objective of the PLI scheme for the telecom sector is to promote domestic manufacturing and reduce imports. Along with this, a revenue of about Rs 17,000 crore will be available. The government will emphasize indigenous manufacturing of main transmission equipment 4G or 5G and other new-generation radio access networks and wireless equipment, Internet of Things, switches, and routers through the PLI scheme. Which will help in rolling out the 5G network in the country soon.