: DoT announces operational guidelines for PLI scheme for telecom, networking equipment #FinanceIndia #StockMarketNEWS DoT announces operational guidelines for PLI scheme for telecom, networking equipment

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DoT announces operational guidelines for PLI scheme for telecom, networking equipment #FinanceIndia #StockMarketNEWS
DoT announces operational guidelines for PLI scheme for telecom, networking equipment New Delhi, Jun 4 (KNN) The Department of Telecommunications (DoT) has issued operational guidelines for the Production Linked Incentive (PLI) scheme for telecom and networking equipment, notified on February 24 this year after extensive consultations with stakeholders.

With the objective to boost domestic manufacturing, investments and export in the telecom and networking products Department of Telecommunications (DoT) notified the “Production Linked Incentive (PLI) Scheme” on 24th February 2021. Now, after extensive consultations with stakeholders, the operational guidelines for the scheme have been issued on 3rd June 2021, an official statement said on Thursday.

The scheme envisages to create global champions out of India who have the potential to grow in size and scale using cutting edge technology and thereby penetrate the global value chains. Telecom products play an important role in the larger vision of “Digital India”.

The PLI Scheme will be implemented within the overall financial limits of Rs 12,195 crores only for implementation of the scheme over a period of 5 years. For the MSME category, financial allocation will be Rs 1000 crores, it added.

Small Industries Development Bank of India (SIDBI) has been appointed as the Project Management Agency (PMA) for the PLI scheme.

The scheme will be effective from 1st April, 2021. Investment made by successful applicants in India from 1st April, 2021 onwards and up to Financial Year (FY) 2024-2025 shall be eligible, subject to qualifying incremental annual thresholds. The support under the Scheme shall be provided for a period of five (5) years, i. e. from FY 2021-22 to FY 2025-26.

The scheme is open to both MSME and Non-MSME companies including domestic and global Companies. Also, manufacturers with products with Indian technology are encouraged to apply.

Interested eligible Applicants can start the registration process for the Scheme from June 4th, 2021 at https://pli-telecom. udyamimitra. in. The Application window shall be open for 30 days i. e. up to July 3rd, 2021.

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. The scheme stipulates a minimum investment threshold of Rs 10 crores for MSME and Rs 100 crores for non MSME applicants. Land and building costs will not be counted as investment. Eligibility shall be further subject to incremental sales of manufactured goods (covered under Scheme Target Segments) over the base year (FY2019-20).