Within three years of the telecom PLI scheme, it attracted investment of Rs 3,400 crore, production of telecom equipment crossed the milestone of Rs 50,000 crore and exports amounted to approximately Rs 10,500 crore, the Communications Ministry said.
Sales of telecom and networking products by PLI beneficiary companies in FY 2023-24 increased by 370 per cent compared to the base year (FY 2019-20).
The gap between telecom imports and exports has narrowed significantly and the total value of goods (both telecom equipment and mobile phones together) exported is over Rs 1.49 lakh crore against imports of over Rs 1.53 lakh crore. lakh crore in FY23-24, the Center reported. .
"This milestone underlines the strong growth and competitiveness of India's telecom manufacturing industry, driven by government initiatives to promote local production and reduce dependence on imports," the ministry said.
India was a major importer of mobile phones in 2014-15, when only 5.8 million units were produced in the country, while 21 million units were imported.
In 2023-24, 33 crore were produced in India and only 0.3 crore were imported and close to 5 crore were exported, according to the latest data from the ministry.
The value of mobile phone exports has increased from Rs 1,556 crore in 2014-15 and just Rs 1,367 crore in 2017-18, to Rs 1,28,982 crore in 2023-24.
“Import of mobile phones was valued at Rs 48,609 crore in 2014-15 and reduced to just Rs 7,665 crore in 2023-24,” the government reported.
By encouraging local production, the PLI scheme has significantly reduced the country's dependence on imported telecom equipment, resulting in 60 per cent import substitution.
India has become almost self-sufficient in antennas, GPON (Gigabit passive optical network) and CPE (customer premises equipment).
According to the government, Indian manufacturers are increasingly competing on a global scale, offering high-quality products at competitive prices.
In the last five years, the trade deficit in telecom (both telecom equipment and mobile phones together) has reduced from Rs 68,000 crore to Rs 4,000 crore and both PLI programs have started making Indian manufacturers globally competitive, attracting investments in the areas of core competence and cutting-edge technology.
Sales of telecom and networking products by PLI beneficiary companies in FY 2023-24 increased by 370 per cent compared to the base year (FY 2019-20).
The gap between telecom imports and exports has narrowed significantly and the total value of goods (both telecom equipment and mobile phones together) exported is over Rs 1.49 lakh crore against imports of over Rs 1.53 lakh crore. lakh crore in FY23-24, the Center reported. .
"This milestone underlines the strong growth and competitiveness of India's telecom manufacturing industry, driven by government initiatives to promote local production and reduce dependence on imports," the ministry said.
India was a major importer of mobile phones in 2014-15, when only 5.8 million units were produced in the country, while 21 million units were imported.
In 2023-24, 33 crore were produced in India and only 0.3 crore were imported and close to 5 crore were exported, according to the latest data from the ministry.
The value of mobile phone exports has increased from Rs 1,556 crore in 2014-15 and just Rs 1,367 crore in 2017-18, to Rs 1,28,982 crore in 2023-24.
“Import of mobile phones was valued at Rs 48,609 crore in 2014-15 and reduced to just Rs 7,665 crore in 2023-24,” the government reported.
By encouraging local production, the PLI scheme has significantly reduced the country's dependence on imported telecom equipment, resulting in 60 per cent import substitution.
India has become almost self-sufficient in antennas, GPON (Gigabit passive optical network) and CPE (customer premises equipment).
According to the government, Indian manufacturers are increasingly competing on a global scale, offering high-quality products at competitive prices.
In the last five years, the trade deficit in telecom (both telecom equipment and mobile phones together) has reduced from Rs 68,000 crore to Rs 4,000 crore and both PLI programs have started making Indian manufacturers globally competitive, attracting investments in the areas of core competence and cutting-edge technology.
