According to the data released by the Ministry of Communication, India’s PLI scheme reduces reliance on imported telecom equipment by 60%, enhancing national security and fostering self-reliance in the telecom sector.
On Wednesday, the Department of Telecommunications (DoT) announced that telecom equipment manufacturing sales crossed $500 billion mark under the PLI scheme for Telecom and Networking Products, with exports totaling approximately $105 billion. Three years after the scheme came into effect, it has attracted an investment of $340 billion, creating more than 17,800 direct jobs and many more indirect jobs.
According to data released by the Ministry of Communications, India’s import of telecom products stood at $153 million in FY 2023-24, while the country exported telecom equipment and mobiles worth $149 million. The ministry further noted that in the last five years, the trade deficit in telecom (both telecom equipment and mobiles put together) has significantly reduced from $680 to a mere 40 billion, a testament to the positive impact of the PLI scheme on the Indian economy. Both the PLI Schemes have started to make Indian manufacturing competitive, attract investment in the areas of core competency and cutting-edge technology.
The Department of Telecommunications is not resting on its laurels. It is planning to revamp the existing PLI scheme for the telecom sector to quickly boost exports of telecom equipment and incorporate more MSMEs into the telecom manufacturing sector. This forward-looking approach is a testament to the department’s commitment to the growth and development of the telecom industry, and it is sure to bring about exciting and promising changes in the near future.
