SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 21 Jun, 2022  

Telecom.9.Thmb.jpg Govt launches design-linked incentive scheme, extends telecom PLI by 1 year

Telecom.9.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
IANS | 20 Jun, 2022
The Department of Telecom (DoT) on Monday announced an incentive scheme for design-led manufacturing, along with extending the duration of production-linked incentive (PLI) scheme by a year.

Applications are invited from June 21 for design-led manufacturing incentive of more than Rs 4,000 crore.

The DoT also announced an additional incentive rate of 1 per cent over and above the existing rates.

"The existing PLI beneficiaries will be given an option to choose financial year 2021-22 or financial year 2022-23 as the first year of incentive," the Department said in an statement.

DoT also approved addition of 11 new telecom and networking products to the existing list, based on suggestions from the stakeholders.

"For promoting design-led manufacturing, Department of Telecommunications (DoT) is inviting applications from Design-led manufacturers as well as others, for availing incentive under the PLI Scheme for five years commencing from 1st April 2022," it added.

Investment made by successful applicants from April 1 onwards and up to Financial Year (FY) 2025-2026 shall be eligible.

"The applications from Design-led manufacturers shall be prioritised over other manufacturers while shortlisting," said the DoT.

The Design-Led Manufacturing is primarily aimed to support efforts for designing telecom products in India.

The DoT had notified the PLI Scheme on February 24, 2021, with a financial outlay of Rs 12,195 crore.

A total of 31 companies, comprising of 16 MSMEs and 15 Non-MSMEs including 8 domestic and 7 Global companies were given approval on October 14, 2021.

Reacting to the announcement, ICEA Chairman Pankaj Mohindroo said that the decision would not only go a long way in supporting the Indian entrepreneurs but also ensure that India consolidates its position in the global value chain (GVC) of the electronics and mobile phone Industry.

"The industry could not have expected a better time for this announcement as the global supply chain has been impacted by the geopolitical tensions after the severe hit of the pandemic," Mohindroo said in a statement.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter