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The department of telecom on Thursday approved 31 proposals entailing an investment of Rs 3,345 crore over the next four and a half years. "The investment of Rs 3,345 crore in the next 4.5 years is just a beginning. Government is helping you (industry players) as a catalyst," minister of state for communications Devusinh Chauhan said. The companies selected for the <keyword id="8941225" type="General" weightage="20" keywordseo="pli-scheme" source="Orion">PLI scheme</keyword> include <keyword id="6354716" type="General" weightage="20" keywordseo="nokia" source="Orion">Nokia</keyword> India, <keyword id="281546" type="General" weightage="20" keywordseo="hfcl" source="Orion">HFCL</keyword>, Dixon Technologies, <keyword id="256305" type="General" weightage="20" keywordseo="flextronics" source="Orion">Flextronics</keyword>, <keyword id="6354671" type="General" weightage="20" keywordseo="foxconn" source="Orion">Foxconn</keyword>, <keyword id="12310778" type="General" weightage="20" keywordseo="coral-telecom" source="Orion">Coral Telecom</keyword>, VVDN Technologies, <keyword id="12224491" type="General" weightage="20" keywordseo="akashastha-technologies" source="Orion">Akashastha Technologies</keyword>, and GS India. The DoT notified the <keyword id="10781612" type="General" weightage="20" keywordseo="PLI-scheme-for-telecom" source="Orion">PLI scheme for telecom</keyword> and networking products on February 24, 2021, with a financial outlay of Rs 12,195 crore, over the five years. The scheme for telecom gear manufacturing in India is expected to encourage the production of equipment worth Rs 2.44 lakh crore and create direct and indirect employment for about 40,000 people. The investors can earn an 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. "This is the first scheme among all PLI schemes, which includes MSMEs. Without this, we would have been handicapped," Coral Telecom managing director Rajesh Tuli said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/itc-surges-5-on-reports-of-potential-investment-from-an-e-commerce-titan/articleshow/87016393.cms">ITC surges 5% on reports of potential investment from an e-commerce titan</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/urban-company-has-announced-a-12-point-agenda-to-improve-partner-earnings-after-over-100-workers-protest/articleshow/87015949.cms">Urban Company has announced a 12-point agenda to improve partner earnings after over 100 workers protest</a>

Nokia, Foxconn among global firms to benefit from India's telecom PLI scheme of ₹3,345 crore

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Nokia, Foxconn among global firms to benefit from India's telecom PLI scheme of ₹3,345 crore

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