Mumbai : Panache DigiLife Limited said it has been selected under the Telecom – Production Linked Incentive (PLI) (Scheme for Telecom and Networking Products) by the Ministry of Communications as declared by Devusinh Chauhan, Minister of State in the Ministry of Communications, Government of India on October 14, 2021.
This is second PLI for the company after IT Hardware PLI under which the company is poised to manufacture IT products like Servers, Laptops, Tablets & AIO PC. The telecom PLI brings game-changing opportunities for the company. With these two Game-changing PLI schemes the company is poised to Design & Manufacture next generation IT & Telecom products for the Domestic and Global customers. Telecom Sector has been one of the key contributors to India’s growth story over the years. It has played a crucial role during the Pandemic in keeping everyone connected in isolation and ensuring that the economy continues moving forward. With 5G on the anvil, the potential of the telecom sector and the role it can play in India’s growth story going forward is widely recognised.
Introduction of the Production Linked Incentive Scheme (PLI), together with enhanced technology support led by adoption of open radio access network (RAN) and investments in 5G telephony, is expected to bring in a course reversal for Indian telecom companies (telcos), which have been largely import-dependent and reliant on global vendors for their network roll-outs. So far, imports have accounted for 75-85% of the total telecom equipment market.