PLI play to take 5G base to 860mn by 2029
5G subscriptions in India over 130 mn; PLI generated 19,500 direct jobs in telecom and networking product sector: Report
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Mumbai: Driven by the production-linked incentive (PLI) scheme, the 5G subscriptions base in India has crossed 130 million and is expected to reach 860 million by 2029, a report showed on Wednesday.The subscriber base of 1.084 billion makes the Indian telecom industry the second largest in the world. “The PLI scheme is the key catalyst in the rapid growth of India’s telecom equipment manufacturing sector,” according to the report by PrabhudasLilladher.
A PLI scheme worth Rs12,195crore has been initiated for the manufacturing of telecom and networking products. In addition, incentives worth more than Rs4,000crore have been earmarked for the design-led manufacturing scheme of the existing PLI Scheme.
Telecom equipment manufacturing exports are likely to exceed Rs10,500crore in the financial year 2025.
