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Govt approves PLI scheme of over Rs 12,000 crore for telecom equipment
The Union Cabinet on Wednesday approved Production Linked Incentive (PLI) scheme worth Rs 12,195 crore for the telecom and network equipment manufacturers in order to boost local manufacturing of the components.
New Delhi [India]: The Union Cabinet on Wednesday approved Production Linked Incentive (PLI) scheme worth Rs 12,195 crore for the telecom and network equipment manufacturers in order to boost local manufacturing of the components.
Addressing a press conference here, Union Minister of Electronics and Information Technology Ravi Shankar Prasad said that PLI scheme for telecom products will be implemented from April 1.
"Today, the Cabinet approved PLIs in the telecom and networking products. Today's decision is for making India a global hub of manufacturing telecom equipment including core transmission equipment, 4G/5G next-generation Radio Access Network and Wireless Equipment," he said.
Prasad said that telecom manufacturing will reach to global scale in India and the PLI scheme is another initiative under Atmanirbhar Bharat.
"One lakh direct and three lakh indirect jobs will be created by mobile manufacturers next year. Under the PLI scheme, telecom manufacturing will get a boost with an outlay of Rs 12,195 crore over 5 years leading to enhanced production of more than Rs 2.4 lakh crores," he added. (ANI)