Industry cheers PLI for telecom sector; says new scheme to spur jobs, boost innovation

New Delhi: The government unveiled details of the ₹12,195-crore production-linked incentive (PLI) scheme for telecom equipment that’s expected to lead to investment of more than ₹3,000 crore and local production worth ₹2.4 lakh crore, of which exports are pegged at ₹2 lakh crore. The cabinet also approved the signing of a trade deal with Mauritius.

“As a result of the PLI scheme for telecom equipment, government hopes to have incremental production of ₹2,44,200 crore in the sector, exports worth ₹1,95,360 crore, 40,000 new jobs and ₹17,000 crore worth of tax revenue in the coming five years,” communications and IT minister Ravi Shankar Prasad said after the cabinet met Wednesday.