Telecom companies invest Rs 2,419 crore under PLI scheme till date, says Ashwini Vaishnaw

Investment by telecom companies under the production-linked incentive scheme has crossed the halfway mark of Rs 2,419 crore, resulting in the employment of 17,753 people, telecom minister Ashwini Vaishnaw said on Tuesday.

“Today, in the telecom sector, we have crossed a major milestone where PLI-supported companies have already completed an investment of Rs 2,419 crore, where the sales are at Rs 34,516 crore, exports are Rs 7,600 crore, and employment is 17,753. This is a great milestone for the telecom industry,” Vaishnaw said.

The government shortlisted 42 companies in October 2022 that committed a total investment of Rs 4,115 crore and are likely to generate additional sales of Rs 2.45 lakh crore and employ over 44,000 people during the six-year scheme period ending 2025-26.