The union cabinet has reportedly granted in-principle approval to production linked incentives (PLI) scheme for telecom and networking products.

To this end, the government will give sops worth Rs 121.95 billion over the next five years.

The objective of the scheme is to boost the domestic production of telecom equipment and reduce the dependence on Chinese players.

Earlier this year, the government had launched a similar scheme for the electronics manufacturing sector, particularly for mobile phone manufacturing.