Investments In Telecom Manufacturing To Reach Rs 4,000 Cr In Coming Years: Minister Ashwini Vaishnaw

New Delhi, Oct 11 (KNN) The investments in telecom manufacturing are expected to touch Rs 4,000 crore over the next few years as India is emerging as a trusted value chain partner, said Ashwini Vaishnaw, Minister for Communications, Electronics and IT on Tuesday.

Speaking at the inaugural of VVDN Technologies’ production line to manufacture 4G and 5G connectivity modules and data cards, the minister said, “Within the next few years in telecom manufacturing alone, we will see close to Rs 4,000 crore total investment which is double of what has already happened, 44,000 employment, and Rs 2.37 trillion total sales revenue.”

As per reports, a boost in investment and sales is expected on the back of the government’s production-linked incentive scheme for the telecom sector, in which 42 companies are beneficiaries.

As of August 31, the government has received a total of Rs 2,419 crore investment from the companies, with a sales turnover of Rs 34,516 crore. The companies have employed close to 17,753 people, according to the government data.

Talking about VVDN production line, Vaishnaw said, “very complex manufacturing has started, and young girls are getting trained in handling complex machines. This is the success of Make in India”.

VVDN is one of the beneficiaries under the PLI scheme. In July this year, US-based Hewlett Packard Enterprise has signed an initial pact with VVDN under which they plan to produce high-end servers worth USD 1 billion in the next 4-5 years.  (KNN Bureau)