Gwalior Telecom Zone Secures Rs 3,500 Crore Commitments, Eyes 14,500 Jobs

Bhopal, Jul 31 (KNN) The Telecom Manufacturing Zone (TMZ) being established in Gwalior is expected to attract Rs 10,000-12,000 crore investment across two phases, Union Minister for Communications Jyotiraditya Scindia said.

The Department of Telecommunications (DoT) and the Madhya Pradesh government have signed an MoU to establish the TMZ across 170 acres in Gwalior, reported PTI.

Gwalior Telecom Zone Draws Rs 3,500 Crore First-Phase Commitments

The first phase was initially targeted to attract Rs 2,000 crore investment and generate around 4,500 jobs.

However, companies participating in a roundtable following the MoU signing committed around Rs 3,500 crore in investments and nearly 14,500 employment opportunities.

14 Companies Announce Investments In First Phase

Fourteen companies have announced investments in the first phase. These include HFCL with Rs 700 crore, VVDN Technologies with Rs 500 crore, Sparsh CCTV with Rs 300 crore, Syrma SGS with Rs 250 crore, Dixon Technologies with Rs 200 crore, Paramount Cable with Rs 200 crore, Optiemus Infracom with Rs 150 crore and Lava International Group with Rs 130 crore, among others.

MP To Hold 51% Stake In Telecom Manufacturing Zone

The TMZ will be operated through a special purpose vehicle, with the Madhya Pradesh government holding a 51 percent stake and the Centre holding the remaining 49 percent.

Zone To Address High Import Dependence On Components

Minister of State for Communications Pemmasani Chandrasekhar said India has made significant progress in mobile phone and electronics exports, but around 80 percent of components used in these products are still imported, with imports valued at nearly USD 116 billion.

He said the zone is expected to create an ecosystem for component manufacturers, startups, research and development centres, testing laboratories, logistics and skilled employment, supporting India's ambition to design and manufacture domestically while expanding exports.

TMZ Aims To Strengthen Telecom Manufacturing Ecosystem

Telecom Secretary Amit Agrawal said the TMZ would strengthen domestic production, innovation and resilient supply chains, helping India move towards becoming a global centre for telecom design, development and manufacturing.

He added that the project demonstrates cooperative federalism through collaboration between the Centre, state government and industry.

Additional 500 Acres Offered For Future Expansion

Madhya Pradesh has offered an additional 500 acres for expansion of the zone, according to DoT Deputy Director General A.K. Bhardwaj, which could support the future expansion plans of companies investing in the TMZ.

(KNN Bureau)