India's Telecom sector surges: ₹2,419 cr investment, 17,753 jobs boosted under PLI scheme

In a boost to India's telecom sector, telecom companies have invested ₹2,419 crore under the production-linked incentive (PLI) scheme, resulting in the creation of 17,753 jobs, according to Telecom Minister Ashwini Vaishnaw. This achievement marks a major milestone for the industry, showcasing the success of the Make in India initiative.

During the virtual inauguration of a production line at domestic firm VVDN Technologies, Minister Vaishnaw highlighted the complexity of the manufacturing processes, emphasizing the involvement of young professionals in handling intricate machinery. He praised the success of the Make in India campaign and commended the vision of Prime Minister Narendra Modi.

Vaishnaw also pointed out that India has rapidly emerged as the third-largest ecosystem for 5G technology globally, with the 5G network having been launched just last year. He expressed pride in India's telecom equipment, manufactured domestically and exported to countries such as the US, European nations, and Japan, where they are recognized for their high quality.

Furthermore, the minister revealed that India's contributions had been accepted by the International Telecommunication Union (ITU) for the standardization of 6G technology, indicating India's progress in becoming a leading standard and IT contributor in the global 6G journey.

This positive development follows the government's strategic move in October 2022, where 42 companies were shortlisted to invest a total of ₹4,115 crore, promising significant growth with additional sales expected to reach ₹2.45 lakh crore. The telecom sector's robust performance and continuous investments are poised to further propel India's position in the global technology landscape.

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