India's telecom equipment sector has achieved a significant milestone by surpassing Rs 50,000 crore in sales under the Production Linked Incentive (PLI) scheme.
This accomplishment, highlighted in a press release by the Ministry of Communication, underscores the government's successful efforts to bolster domestic manufacturing and reduce import dependence. Aligned with Prime Minister Narendra Modi's vision of 'Atmanirbhar Bharat', the Telecom PLI scheme has attracted investments totaling Rs 3,400 crore within three years of its inception.
The scheme's impact extends beyond financial metrics, contributing to the creation of more than 17,800 direct jobs and numerous indirect employment opportunities. This growth signifies the robust competitiveness of India's telecom manufacturing sector, propelled by government initiatives aimed at promoting local production and enhancing national security through reduced import reliance.
Initiatives like Make-in-India and the PLI scheme have transformed India from a net importer to a significant producer of telecom equipment. The sector's success is underscored by the production of 33 crore mobile phones domestically in 2023-24, a stark increase from 5.8 crore phones in 2014-15. Moreover, India's export of telecom products has surged, reaching Rs 10,500 crore, reflecting substantial growth and global competitiveness.
Minister of Communications and Electronics, Ashwini Vaishnaw, emphasized the transformative impact of these initiatives, noting the significant reduction in India's telecom imports and the sector's emergence as a global player in advanced technologies like 5G. The Department of Telecommunications (DoT) and Ministry of Electronics and Information Technology (MeitY) have been instrumental in bridging the gap between imports and exports, further enhancing India's export prowess in the telecom sector.
In fiscal year 2023-24 alone, combined exports of telecom equipment and mobiles totaled over Rs 1.49 lakh crore, nearing import figures of Rs 1.53 lakh crore, marking a notable milestone in India's export capabilities. The success story of India's telecom manufacturing is a testament to the strategic initiatives and policies driving economic growth and technological advancement in the country.
