The central government has extended the last date for submission of applications for design-led manufacturing under the production linked incentive (PLI) scheme for telecom and networking products up to August 05, 2022.
The registration process started on June 21, 2022. The last date for submission of the application was fixed as July 20, 2022.
The move to extend the deadline was taken keeping in view the requests made by some of the interested companies and for their wider participation in the scheme, a Ministry of Communications said on Tuesday evening.
The PLI scheme was launched with an objective to boost domestic manufacturing, investments, and export in telecom and networking products. This will give a boost to the manufacturing of telecom and networking products to develop a 5G ecosystem for India.
The financial outlay for the implementation of the scheme is pegged at Rs 12,195 crore over a period of 5 years.
The Scheme is open to both MSME and Non-MSME companies including domestic and global Companies. The applications from design-led manufacturers shall be prioritized over other manufacturers while shortlisting.
The design-led manufacturing is primarily aimed to support efforts for designing telecom products in India. It will recognize and encourage R&D-driven manufacturing in the country to enhance its contribution to the global value chain as envisaged in the National Digital Communication Policy, 2018.
Applicants will have to satisfy the minimum revenue criteria to be eligible under the scheme. The company may decide to invest in single or multiple eligible products.
It is estimated that full utilization of the scheme funds is likely to lead to incremental production of around Rs 2.4 lakh crore with exports of around Rs 2 lakh crores over 5 years. It is also expected that the scheme will bring an investment of around Rs 3,000 crore and generate huge direct and indirect employment.
(ANI)
