The Union Cabinet has approved Rs 12,195 crore production linked incentive (PLI) scheme for the telecom and networking products in order to boost India’s manufacturing capabilities and enhance exports. “The scheme is aimed at offsetting the huge import of telecom equipment worth more than Rs 50,000 crore and reinforce it with “Made in India” products both for domestic markets and exports,” Telecom minister Ravi Shankar Prasad said in a media briefing after a cabinet meeting. The scheme outlay is for a period of five years.
The government had, towards the end of last year, rolled out a PLI scheme worth Rs 50,000 crore for large-scale electronic goods makers for five years, to attract investments in mobile phone manufacturing and electronic component units.
The government will also come up with a PLI scheme to encourage production of laptops and tablet PCs, the minister added.
The PLI initiative is a part of the government’s plan to support domestic manufacturing and convert India into an attractive and alternate manufacturing destination.
All major mobile component manufacturers of world are expanding their powerful footprints in India by making investments, starting exports and giving jobs to thousands of Indians.