The government is extending the Telecom PLI program for one year with additional incentives

Monday’s order extends the Telecommunications Production Incentive Scheme (PLI) by one year and invites applications for incentives worth more than Rs 4,000 crore from June 21, 2022 to July 20, 2022, the government said in a statement.

The following are the minimum global revenue criteria that applicants must meet in order to be eligible under the Scheme, according to the press release.
– The company may decide to invest in one or more eligible products.
– The scheme provides for a minimum investment threshold of Rs10 Crores for MSME and Rs100 Crores for non-MSME applicants.
– The costs of land and construction will not be considered an investment.
– The eligibility additionally depends on the additional sales of manufactured goods (covered by target segments of the scheme) during the base year (2019-2020 financial year).
– The distribution for MSME has been increased from Rs1000 Crores to Rs 2500 Crores.

“In order to build a strong 5G ecosystem, the Union budget for 2022-2023 proposed the launch of a design-driven production scheme as part of the existing PLI scheme,” according to DoT.

In addition, DoT added that “existing PLI beneficiaries will be given the opportunity to choose financial year 2021-22 or financial year 2022-23 as the first year of incentive”.

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“Investments made by successful applicants in India from 1 April 2022 onwards until the financial year (FY) 2025-2026 will be eligible, subject to qualified additional annual thresholds. The scheme is open to both SMEs and non-SMEs, including local and global companies, “DoT said in a statement.

According to the announcement, “Design-driven applications will take precedence over other manufacturers as they are selected. This will boost the production of telecommunications and networking products to develop a 5G ecosystem for India.

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