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India's DoT set to distribute ₹400 crore in incentives to telecom gear manufacturers

Published Nov 08, 2023 11:12
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In a move to bolster India's telecom gear manufacturing sector, the Department of Telecommunications (DoT) is preparing to distribute over ₹400 crore ($53 million) in incentives to 20 companies. The beneficiaries, which include Nokia (HE:NOKIA) Jabil, VVDN, and HFCL, are being rewarded for meeting their fiscal year 2022-23 goals under the revised Production Linked Incentive (PLI) scheme.

The PLI scheme, first rolled out in February 2021, initially allocated ₹12,195 crore ($1.62 billion), offering incentives ranging from 4% to 7% across various categories and years. The scheme also provided an additional 1% incentive for Micro, Small & Medium Enterprises (MSMEs) in the initial three years.

Last year, the scheme underwent significant changes aimed at fostering design-led manufacturing. As part of these changes, ₹4,000 crore ($530 million) was earmarked from its total budget. Following the revisions, a total of 42 firms enlisted in the scheme, including 28 MSMEs. These firms pledged a total investment of ₹4,115 crore ($546 million).

While this marks the second year of the initiative, many firms will be receiving incentives for the first time due to their participation in the revised scheme and increased investments. Notably, the government has also allowed companies to claim rewards for manufacturing 5G fixed wireless access equipment. This move aligns with India's broader strategy to build a robust digital infrastructure and accelerate its transition towards next-generation network technologies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

India's DoT set to distribute ₹400 crore in incentives to telecom gear manufacturers
 

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