17,000 new credit cards issued by ICICI linked to wrong users

The relief package, now underworks, would be sent to the finance ministry by next week and an announcement is likely by month-end.

New Delhi The Department of Telecommunications (DoT) is likely to issue guidelines on implementation of production-linked incentive (PLI) schemes for manufacturers in the sector and start inviting applications for the same in about a week, according to government officials.

Telecom gear makers firms such as Ericsson and Nokia are keen to expand their operations in India, and global companies like Samsung, Cisco, Ciena and Foxconn have “shown interest” to set up manufacturing bases in the country for telecom and networking products for domestic and export markets.

“Telecom PLI has already been approved by the government. The DoT is ready with guidelines to implement it, application format, incentive allocation, etc. It should be published on the DoT website within a week,” the official, who did not wish to be named, told PTI.

The DoT notified the PLI scheme for telecom and networking products on February 24, 2021, with a financial outlay of Rs 12,195 crore, over five years.

The scheme for telecom gear manufacturing in India is expected to encourage production of equipment worth Rs 2.44 lakh crore and create direct and indirect employment for about 40,000 people.

The investor can earn incentive for incremental sales up to 20 times the committed investment enabling them to reach global scales and utilise their unused capacity and ramp up production.

The scheme is expected to bring an investment of over Rs 3,000 crore and generate tax revenue of about Rs 17,000 crore.