Under PLI Scheme, Telecom Firms Have Invested Rs 2,419 Cr to Date: Ashwini Vaishnaw

 

Telecom companies in India have made a substantial investment of Rs 2,419 crore under the Production-Linked Incentive (PLI) scheme, marking a significant milestone for the sector. This investment has led to the creation of employment opportunities for approximately 17,753 individuals. The sales from this investment are reported to be Rs 34,516 crore, with exports amounting to Rs 7,600 crore. The government’s initiative has been instrumental in attracting investment, with 42 companies committing to a total investment of Rs 4,000 crore. The telecom minister, Ashwini Vaishnaw, highlighted the success of the PLI scheme, emphasizing the positive impact on the industry and the employment opportunities it has generated. This investment is a testament to the industry’s growth and the government’s efforts to boost the telecom sector in India.The Indian telecom equipment industry has made significant strides in both domestic production and exports. As per Ashwini Vaishnaw, the Union minister of communications and information technology, around 80% of the telecom equipment used in India’s 5G rollout is locally manufactured, and the country currently exports such products to 72 countries. The sector’s export growth is evident, with a 77.3% year-on-year increase, reaching US$8.6 billion in the period of April-December 2022-23, contributing 2.5% to India’s total exports. The government has also taken steps to boost telecom exports by forming working groups within the Telecom Equipment and Services Export Promotion Council (TEPC) to promote the export of telecom gear, aiming to position India as a significant exporter of telecom equipment. However, it’s worth noting that the Telecom Regulatory Authority of India (TRAI) has highlighted that manufacturing in India continues to cost up to 13% more than in more established markets, and has recommended measures to bring down the cost of manufacturing. Despite this, the industry’s future looks promising, with India’s ambition to become one of the major telecom exporters to the world in the next three years.

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