Headlines of the Day
DoT starts doling out PLI, GX Telecom gets first cheque
The Department of Telecom has started disbursing production-linked incentives to shortlisted manufacturers who have completed their target for 2021-22, a government official said.
Telecom gear maker GX Telecom, which has been shortlisted under the PLI scheme for promoting local manufacturing, said it received an incentive from the DoT under the scheme.
Our vision for 2023 will be to develop products that are designed in India, made in India which will create skilled job opportunities in the direction of building India as a global hub … with the incentive received further supporting new innovation to cater to international market demands with indigenous products,” GX International Group CEO Paritosh Prajapati told PTI.
The company has the capacity to make 3.5 lakh units of GPON equipment which are used for rolling out broadband networks.
GX Group Head of Sales Sambit Swain said that there is an increased demand for Made in India telecom equipment in the global market and the group is confident of meeting investment and sales targets for the ongoing financial year.
A DoT official said that the GX Group firm GX India is the first shortlisted entity under the scheme to have received the incentive.
Telecom gear maker VVDN Technologies and CommScope India have also submitted their claims for the incentives which are under process, the official said.
The government has selected 42 companies under the PLI scheme, of which 17 companies have applied for additional incentives of 1 percent under design-led manufacturing criteria.
The shortlisted companies have committed a total investment of Rs 4,115 crore which is expected to generate additional sales of Rs 2.45 lakh crores and create additional employment of more than 44,000 over the five-year scheme period effective from April 1, 2022, onwards. PTI
You must be logged in to post a comment Login