31 companies including 16 MSMEs approved for Telecom PLI Scheme, investment of around Rs 3,345 crore envisaged

New Delhi: The government has given approval to 31 companies comprising 16 MSMEs and 15 Non-MSMEs (8 Domestic and 7 Global companies) under the Telecom PLI Scheme.

The Production Linked Incentive (PLI) Scheme for Promoting Telecom and Networking Products Manufacturing in India has been launched to realize the Prime Minister Narendra Modi’s vision of Atmanirbhar Bharat. 

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.

As per commitments given by applicants, these 31 applicants are expected to invest Rs 3345 crore in the next 4 years and generate incremental employment of more than 40,000 people with expected an incremental production of around Rs 1.82 Lakh Crore over the scheme period. The scheme is expected to boost domestic Research & Development of new products on which 15% of the committed investment could be invested.

The PLI Scheme is being launched by DoT with the objective to boost domestic manufacturing in the telecom and networking products by incentivising incremental investments and turnover with total outlay of Rs 12,195 crore. The scheme is effective from 1st April, 2021. Investment 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, said an official statement.