New Delhi, The Cabinet on Wednesday approved the Production Linked Incentive (PLI) scheme worth Rs 12,195 crore for Telecom and Networking Products. The approval comes in wake of very encouraging success of PLI related to Mobile and component manufacturing, which was announced in April 2020 during the height of Covid pandemic. In spite of July 31, 2020 being the last date for applying, it received a resounding response. All major mobile component manufacturers of world are expanding their powerful footprints in India by making investments, starting exports and giving jobs to thousands of Indians. Today’s Cabinet decision addresses another component of Atmanirbhar Bharat to make India a global hub of manufacturing telecom equipment including core transmission equipment, 4G/5G Next Generation Radio Access Network and Wireless Equipment, Access & Customer Premises Equipment (CPE), Internet of Things (IoT) Access Devices, Other Wireless Equipment and Enterprise equipment like Switches, Routers etc, Ministry of Communications said in a statement. The scheme was finalised after widespread consultation with stakeholders like manufacturers, industry leaders and associations. The core component of this scheme is to offset the huge import of telecom equipment worth more than Rs 50 thousand crores and reinforce it with “Made in India” products both for domestic markets and exports. It will be operational from April 1, 2021 and also address local manufacturing in MSME category because Government desires MSMEs to play an important role in the telecom sector and come out as national champions. This scheme will lead to incremental production of around ?2.4 Lakh Crores with exports of around ?2 Lakh Crores over 5 years. It is expected that scheme will bring investment of more than ?3,000 crore and generate huge direct and indirect employment and taxes both.