HomeNewsThe Govt Extends PLI Scheme For Telecom & Networking Products To 42...

The Govt Extends PLI Scheme For Telecom & Networking Products To 42 Beneficiaries

The only 42 businesses, including 28 micro, small, and medium-sized enterprises, were approved by the Ministry of Communications to participate in the PLI Scheme for Telecom & Networking Products. Seventeen businesses so far have submitted applications for the 1% bonus available to them because they meet the design-led manufacturing criteria. A total of Rs. 4,115 crores have been pledged by the following 42 companies (Annex). Around the course of the scheme’s duration, this is projected to increase sales by Rs. 2.45 lakh crores & add over 44,000 jobs. The Union budget for FY2022-23 introduced the design-led PLI Scheme for telecom & networking devices, with the goal of establishing a strong local value chain. It added 1% to the already generous incentives for goods made in India that are designed in the country. Since its introduction in June 2022, the Design-led Product Lifecycle Incentive (PLI) scheme has been accepting applications from Design-led manufacturers and individuals who are interested in receiving incentives beginning April 1, 2022. Companies already participating in the PLI scheme for telecom & networking devices can expand their product offerings and apply for the new design-led PLI scheme. In addition, they were allowed to alter the start date of their PLI Scheme coverage from 5 to 4 years. Twenty-two businesses, including thirteen new entrants, took advantage of the option to move their first year.


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