HFCL MD Mahendra Nahata said that the scheme will make telecom equipment manufacturing in the country competitive
Telecom equipment manufacturers like Nokia and HFCL will be partaking in the telecom PLI scheme, the guidelines of which was announced by the Department of Telecommunications (DoT) recently, a report said.
Citing company officials, a PTI report said that Nokia will go through the guidelines and definitely participate in the scheme.
Nokia India’s Twitter handle said, “Nokia is committed to this vision with our Chennai factory that manufactures telecom equipment from 2G to 5G, making for India and the world.”
Indian telecom company HFCL’s Managing Director Mahendra Nahata said that the scheme will make telecom equipment manufacturing in the country competitive, reduce imports and increase exports.
“PLI scheme will go long way in achieving the objective of Atmanirbhar Bharat. We will participate in the scheme,” Nahata said.
The PLI scheme, which has a budgetary outlay of Rs 12, 195, is aimed that turning India into a manufacturing hub for telecom and network equipment. The government expects the scheme to bring an investment of over Rs 3,000 crore and generate tax revenue of about Rs 17,000 crore.
Several domestic and foreign telecom gear makers have appreciated the initiative, calling the scheme a boost for the government’s Atmanirbhar Bharat (self-reliant India) vision.
This comes at a time when the country is gearing up to introduce 5G in India.
“With the 5G revolution set to kickstart in India, we will require new investments, software and hardware development. The PLI scheme will complement the 5G ecosystem. By the time we see an increment in demand, the telecom manufacturing sector will be ready with new products and innovations,” said Telecom Equipment and Services Export Promotion Council (TEPC) Chairman Sandeep Aggarwal.
