An official source said, “So far 25 companies have registered for PLI. Interest has also been shown from big companies. They are expected to submit their applications before the deadline.
Nokia
Official sources have informed that around 25 telecom equipment manufacturers, including Nokia and HFCL, have applied under the sector’s production related incentive scheme of Rs 12,195 crore. Indigenous companies such as Tejas Networks and Dixon Technologies have confirmed that they will apply for the scheme before the deadline that ends on July 3.
An official source said, “So far 25 companies have registered for PLI. Interest has also been shown from big companies. They are expected to submit their applications before the deadline.
These companies confirmed the application
Under the scheme, the investor can get incentive for sales related growth of 20 times more than the committed investment. This will help them to reach the global level and utilize their idle capacity and increase production.
Mahendra Nahata, managing director of HFCL and Rajesh Tuli, managing director of Coral Telecom, confirmed the application for the scheme. Another official source said that Nokia has also registered for the scheme. Tuli said that PLI is a brilliant scheme but “domestic value addition as the criteria for selection” should be given more importance.
The scheme is expected to generate tax revenue of Rs 17,000 crore.
Government Telecom Equipment Manufacturer ITI Limited is also in the process of submitting applications. Under the scheme, assistance will be given for a period of five years from the financial year 2021-22 to the financial year 2025-26. The scheme is expected to attract an investment of over Rs 3,000 crore and generate tax revenue of around Rs 17,000 crore. The government expects that the scheme will boost production of equipment worth Rs 2.44 lakh crore and exports of around Rs 2 lakh crore in five years.
This scheme is for both MSME and Non-MSME
According to the information, this scheme is open to both MSME (Micro, Small and Medium Enterprises) and non-MSME companies including domestic and global companies. Along with this, manufacturers producing products with Indian technology are encouraged to apply. In this, the minimum investment limit for MSME has been fixed at Rs 10 crore and for non-MSME applicants Rs 100 crore. In this, an incentive of 4-6 percent will be given to non-MSMEs and an incentive of 4-7 percent to MSMEs. The cost of land and building will not be taken as investment.
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