Investment by telecom companies crosses Rs 2,419 crore mark under PLI scheme

Telecom Minister Ashwini Vaishnaw said that investment by telecom companies under the production-linked incentive scheme has crossed the halfway mark of Rs 2,419 crore, resulting in the employment of 17,753 people. The government shortlisted 42 companies in October 2022 that committed a total investment of Rs 4,115 crore and are likely to generate additional sales of Rs 2.45 lakh crore. It will also employ over 44,000 people during the six-year scheme period ending 2025-26. 

"Today, in the telecom sector, we have crossed a major milestone where PLI-supported companies have already completed an investment of Rs 2,419 crore, where the sales are at Rs 34,516 crore, exports are Rs 7,600 crore, and employment is 17,753. This is a great milestone for the telecom industry," Vaishnaw said.  

The minister was speaking during the virtual inauguration of a production line to manufacture 4G and 5G connectivity modules and data cards for US-based Telit Cinterion by domestic firm VVDN.  

"Very complex manufacturing has started, and young girls are getting trained in handling complex machines. This is the success of Make in India, and this is the success of our Prime Minister's vision," the union minister said.