New Delhi: Ashwini Vaishnaw, the Minister for Communications, Electronics, and IT, highlighted that India’s telecom manufacturing sector is poised to attract investments of Rs. 4,000 crore (US$ 480.5 million) in the coming years. This is due to the country’s growing reputation as a reliable value chain partner.
‘Within the next few years in telecom manufacturing alone, we will see close to Rs 4,000 crore (US$ 480.5 million) total investment which is double of what has already happened, 44,000 employment, and Rs. 2.37 trillion (US$ 28 billion) total sales revenue,’ Vaishnaw said during the inaugural of VVDN Technologies' production line to manufacture 4G and 5G connectivity modules and data cards.
‘Very complex manufacturing has started, and young girls are getting trained in handling complex machines. This is the success of Made in India,’ he said.
The government’s production-linked incentive (PLI) scheme for the telecom sector, benefiting 42 companies, is anticipated to stimulate sales and encourage investment, according to reports.
With a sales turnover of Rs. 34,516 crore (US$ 4.14 billion), as of August 31, the companies had invested a total of Rs. 2,419 crore (US$ 290.6 million) with the government. Based on government data, the companies have employed nearly 17,753 people.
One of the PLI scheme’s beneficiaries is VVDN. US-based Hewlett Packard Enterprise and VVDN signed an initial pact in July of this year when the parties agreed to create high-end servers valued at US$ 1 billion over the course of the following 4-5 years.
