The Indian government has shortlisted 33 companies as beneficiaries of the production linked incentive (PLI) scheme for the telecom sector. The scheme is set to offer the companies benefits worth Rs 120 billion provided they are able to meet manufacturing targets within the desired time frame and within India.
As per media reports, seven out of eight global companies that had applied to avail benefits under the scheme have been selected. These include Nokia Electronics with proposed investment worth Rs 1.25 billion, Rising Stars Hi-Tech with Rs 1.25 billion, Foxconn with Rs 2.08 billion, Jabil Circuit with Rs 1.76 billion, Flextronics with Rs 1.02 billion, CommScope with Rs 2.09 billion and Sanmina-SCI with Rs 1.1 billion.
A total of 26 domestic companies have been shortlisted by the government, out of which 17 belong to the micro, small and medium enterprise (MSME) category and 9 are large companies. Some of the major companies that have made the cut include Tejas Networks, GDN Enterprises, Neolync Tele Communications, VVDN Technologies, and more.
