According to the Ministry of Commerce and Industries’ quarterly review reports, mobile manufacturers shortlisted under the production linked incentive (PLI) scheme have invested Rs 13 billion during the quarter ended (QE) December 2020.
Further, the ministry added that these manufacturers have produced goods worth around Rs 350 billion in the concerned quarter. As per quarterly reports, over 60 per cent of production is expected to be exported. The scheme is also expected to bring in additional investment of Rs 110 billion and value addition is expected to go up from 20-25 per cent presently to 35-40 per cent by 2025.
In a similar development, the government has reportedly said that global industry leaders are keen to set up manufacturing base in India and are positive about the incentives proposed under the PLI scheme. According to the government, companies such as Ericsson and Nokia are keen to expand their operations in India. Further, it added that global companies like Samsung, Cisco, Ciena and Foxconn have shown interest to set up manufacturing base in the country for telecom and networking products for domestic and export markets. Indian manufacturers like VVDN Technologies, Dixon, HFCL, Coral Telecom and STL have also shown interest in the scheme that was notified in February, 2021.
