25 Companies Including Nokia Apply For Govt's Rs 12,195 Crore PLI Scheme For Telecom Gear Manufacturing

Government's Rs 12,195 crore production linked incentive (PLI) scheme for telecom gear manufacturing space has received a thumping response with around 25 Indian and foreign companies have already applied to benefit from it, reports Livemint.

Under the scheme, an investor can get the incentive for incremental sales up to 20 times the committed investment, enabling them to reach global scales and utilise their unused capacity and ramp up production. The deadline to apply under the scheme is 3 July.

Nokia, HFCL, Coral Telecom are among the players that have already put in their applications for participation in the scheme. Meanwhile, Tejas Networks, Dixon Technologies and state-owned ITI Limited are all in the process of applying for the scheme.

The scheme is expected to bring an investment of over Rs 3,000 crore and generate tax revenue of about Rs 17,000 crore for the Government. The Government expects that the scheme will encourage the production of equipment worth Rs 2.44 lakh crore, with exports of around Rs 2 lakh crore over a period of five years.