Cabinet approves $1.68 billion plan to promote local telecom gear production

India’s federal cabinet on Wednesday approved a 121.95 billion rupee ($1.68 billion) plan to promote local manufacturing and export of telecoms and networking gear, the country’s telecoms minister said.
The scheme will offer gearmakers annual cash incentives of between 4% and 7% on any increase in sales of locally-made equipment over the next five years, compared with 2019-20 levels.
The plan is part of Prime Minister Narendra Modi’s efforts to make India an electronics production hub and to create jobs. It is also aimed at cutting imports, especially from China.
“I would appeal to all telecoms’ equipment manufacturers, come on India is waiting for you with this scheme, we’ll give you all the help,” India’s telecoms minister Ravi Shankar Prasad told a news conference.