Domestic telecom manufacturers seek credit facility worth Rs 100 billion in upcoming budget

As per the PHD Chamber of Commerce and Industry (PHDCCI), domestic telecom manufacturers have sought a line of credit facility worth 100 billion from the government in the upcoming budget.

Funds have been sought by the industry to bring them at par with foreign competitors. Additionally, it has also demanded up to 75 per cent quota for locally-made telecom equipment to reduce imports.

The industry body has also suggested that the government declares sales under ‘preference to Make in India’ scheme as deemed exports and imposes custom duties on imported 4G and 5G equipment.

Further, the PHDCCI recommended that provisions should be made in the budget to ensure that wherever central, quasi or state government funds are used, PMI and preferential market access policy of the DoT, may be implemented in the right earnest to get the maximum impact of this expenditure on GDP growth and GST generation.