Telecom Equipment Manufacturing Sales Cross Rs 50,000 Crore Milestone
India's telecom equipment manufacturing sales have crossed the Rs 50,000 crore milestone under the Production Linked Incentive (PLI) scheme. The PLI scheme has driven growth and innovation in India's manufacturing sector.
Wed, 10 Jul 2024
The Indian government's efforts in promoting domestic manufacturing have paid off as telecom equipment sales have crossed the Rs 50,000 crore milestone under the Production Linked Incentive (PLI) scheme. This significant achievement marks a major step forward in the country's quest to become a global leader in the production of high-tech products.
As per recent reports, the PLI scheme has contributed significantly to an increase in production, employment generation, and economic growth. The scheme provides incentives to manufacturers who invest in cutting-edge technology and set up new facilities or expand existing ones. This initiative has attracted foreign investments, created jobs, and boosted exports.
Telecom equipment manufacturing sales cross Rs 50,000 crore milestone under the PLI Scheme
— PIB India (@PIB_India) July 10, 2024
Due to Government push, telecom equipment exports (Rs 1.49 lakh crore) and imports (Rs 1.53 lakh crore) in FY 2023-24 at similar levels
PLI Schemes contribute to increase in production,…
The government's push for telecom equipment manufacturing has also led to a balancing act in the country's trade dynamics. According to recent data, India's telecom equipment exports (Rs 1.49 lakh crore) and imports (Rs 1.53 lakh crore) are expected to be at similar levels in FY 2023-24.
The PLI scheme has been instrumental in driving growth and innovation in India's manufacturing sector. As the country continues to make strides in this direction, it will be interesting to see how these developments impact the economy and job market in the long run.
Published by Chronicles Of India. Scroll down to read more
