The Union Cabinet today approved a production-linked incentive scheme for the telecom sector. Electronic and IT Minister Ravi Shankar Prasad said, the production-linked incentive worth Rs 12,195 Crore has been cleared for the telecom sector. He said, this will create 40 thousand direct and indirect employment.
Production Linked Incentive Scheme intends to promote manufacture of Telecom and Networking Products in India and proposes a financial incentive to boost domestic manufacturing and attract investments in the target segments of telecom and networking products in order to encourage Make in India. The scheme will also encourage exports of telecom and networking products ‘Made in India’. Support under the Scheme will be provided to companies and entities engaged in manufacturing of specified telecom and networking products in India.