Cabinet approves PLI scheme for telecom, network equipment companies

NEW DELHI: The Union Cabinet on Wednesday approved the keenly awaited Production Linked Incentive (PLI) scheme for Telecom and Networking Products with a budgetary outlay of Rs 12,195 crore over five years. The government expects this measure to counter imports worth Rs 50,000 crore and make India a production hub of such equipment ahead of the crucial 5G network implementation.

Telecom Minister Ravi Shankar said, “As a result of PLI scheme for telecom equipment, government hopes to have incremental production of Rs 2,44,200 crore in the sector, exports worth Rs 1,95,360 crore, 40,000 new jobs, and Rs 17,000 crore worth of tax revenue in the coming five years.”