Govt extends Telecom PLI Scheme for one year with additional incentives
The government’s on Monday extended the telecom Production Linked Incentive (PLI) Scheme by one year and it is inviting applications for incentives of more than Rs 4,000 crores from 21 June 2022 till 20 July 2022, a government press release stated.
Following are the minimum Global Revenue criteria that the applicants will have to satisfy to be eligible under the Scheme, as per the press release-
– The Company may decide to invest for single or multiple eligible products.
– Scheme stipulates a minimum investment threshold of Rs10 Crores for MSME and Rs100 Crores for non MSME applicants.
– Land and building cost 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).
– The allocation for MSME has been enhanced from Rs1000 Crores to Rs 2500 Crores.
“With the objective to build a strong ecosystem for 5G, the Union Budget 2022-23 has proposed to launch a Scheme for design-led manufacturing as part of the existing PLI Scheme”, as claimed by the DoT.
Furthermore the DoT added, “the existing PLI beneficiaries will be given an option to choose financial year 2021-22 or financial year 2022-23 as the first year of incentive.”
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“Investment made by successful applicants in India from 1st April 2022 onwards and up to Financial Year (FY) 2025-2026 shall be eligible, subject to qualifying incremental annual thresholds. The Scheme is open to both MSME and Non-MSME Companies including Domestic and Global Companies”, the DoT notified in its release.
As per the release, “The applications from Design-led manufacturers shall be prioritized over other manufacturers while shortlisting. This will give a boost to manufacturing of telecom and networking products to develop 5G ecosystem for India”.