Let us tell you that the government has issued guidelines for the PLI scheme on Thursday, in which 10 big companies and 10 MSMEs will be selected.
Telecom Secretary Anshu Prakash said that the Production Linked Incentive (PLI) scheme for telecom equipment and networking products will prove to be a ‘game changer’ and the response from the industry has been commendable. Let us inform that the Department of Telecommunications has issued guidelines for the PLI scheme on Thursday.
Speaking to Economic Times after the government announced the benefits under the PLI scheme, Prakash said, “Under the special feature of this scheme, separate funds for MSMEs and minimum cumulative annual investment for the purpose of profit. Encouraging sales up to 20 times. He further said that the registration portal has already been opened for this and all the companies have been given 30 days to apply.
Let us tell you that the government has issued guidelines for the PLI scheme on Thursday, in which 10 big companies and 10 MSMEs will be selected. The government is expecting an investment of over Rs 3,000 crore from the scheme and is expected to encourage production of equipment worth Rs 2.44 lakh crore over a period of five years.
According to the 25-page guidelines released by the Department of Telecommunications (DoT), a total benefit of Rs 12,195 crore has been announced for those applying for PLI. DoT said in a statement that the registration process for the scheme will start on Friday and will be open for 30 days i.e. till July 3.
This scheme will be effective from April 1, 2021. Through this, eligible companies will be provided incentives on their investments and incremental sales from the current financial year till 2025-26. According to the Department of Telecommunications, “After extensive consultation with the concerned parties, the operational guidelines for the scheme have been issued on June 3, 2021.”
“The scheme envisages to champion companies globally that have the potential to grow in size and scale by using state-of-the-art technology and move forward in the global value chain.”
Telecom equipment makers like Ericsson, Nokia and HFCL have expressed interest in expanding their operations in India. Global companies including Samsung, Cisco, Ciena and Foxconn have also shown interest in setting up manufacturing bases in the country for telecom and networking products for the domestic market and exports.
The Telecom Equipment Manufacturing Scheme in India is expected to boost the production of equipment worth Rs 2.44 lakh crore over a period of five years. According to an earlier announcement by the government, the investment under the Telecom PLI is expected to generate direct and indirect employment for about 40,000 people.
According to DoT, “This scheme will be effective from April 1, 2021. Investments made by successful applicants in India from April 1, 2021 and up to FY 2024-2025, will be subject to an incremental annual limit of eligibility. Assistance under the scheme will be provided for a period of five years, i.e. from FY 2021-22 to FY 2025-26. The scheme is expected to bring investment of over Rs 3,000 crore and generate tax revenue of around Rs 17,000 crore.
According to the statement, “The scheme is open to both MSME (Micro, Small and Medium Enterprises) and non-MSME companies including domestic and global companies. Also, manufacturers producing products with Indian technology are encouraged to apply.” It said, “Interested eligible applicants can start the registration process for the scheme from June 4, 2021. Applications can be given for 30 days i.e. till July 3, 2021.
Under the scheme, the minimum investment limit for MSMEs 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 4-7 percent to MSNEs. The cost of land and building will not be taken as investment. Small Industries Development Bank of India (CIDBI) has been appointed as the Project Management Agency (PMA) for the PLI scheme.
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