Telecom gear maker GX Telecom gets govt. incentives for 2021-22
SUBSCRIBE
JOBS
Go Back
1 year ago 06:00:24am Television

Telecom gear maker GX Telecom gets govt. incentives for 2021-22

New Delhi, 13-February-2023, By IBW Team

Telecom gear maker GX Telecom gets govt. incentives for 2021-22

The Department of Telecoms has started disbursing production-linked incentives to shortlisted manufacturers who have completed their target for 2021-22, a government official said.

Telecom gear maker GX Telecom, which has been shortlisted under the PLI scheme for promoting local manufacturing, said it received an incentive from the DoT under the scheme, a PTI report stated yesterday.

“Our vision for 2023 will be to develop products that are designed in India, made in India which will create skilled job opportunities in the direction of building India as a global hub … with the incentive received further supporting new innovation to cater international market demands with indigenous products,” GX International Group CEO Paritosh Prajapati told PTI.

The company has a capacity to make 3.5 lakh units of GPON equipment which are used for rolling out broadband networks.

GX Group Head of Sales Sambit Swain said that there is an increased demand for Made in India telecom equipment in the global market and the group is confident of meeting investment and sales targets for the ongoing financial year.

A DoT official said that the GX Group firm GX India is the first shortlisted entity under the scheme to have received the incentive.

Telecom gear maker VVDN Technologies and Commscope India have also submitted their claims for the incentives which are under process, the official said.

The government has selected 42 companies under the PLI scheme, of which 17 companies have applied for additional incentives of 1 per cent under design-led manufacturing criteria.

The shortlisted companies have committed a total investment of Rs 4,115 crore which is expected to generate additional sales of Rs 2.45 lakh crores and create additional employment of more than 44,000 over the five-year scheme period effective from April 1, 2022 onwards.


Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Our Events

  • img
    SatCab Symposium

    SatCab symposium organized by Aavishkar Media Group is an annual event. It's a well-informed event where we have a panel discussion on the current affairs and future forecasting on our industry.

  • img
    BCS
    Ratna Awards

    BCS Ratna Award organized by Aavishkar Media Group is an annual event. In this award function, a community of our industry is honored by receiving the award for the contribution of their work.

  • img
    Chetna Yatra

    Chetna Yatra organized by Aavishkar Media Group is an annual event. Held by Dr. AK Rastogi, Chairman of Aavishkar Media Group. Pilgrimage India in his car for connecting the people of our industry.

  • img
    Imaan India Sammaan

    Imaan India Samman is an event mobilized by Aavishkar Media Group, which was launched in 2012. Giving the award to the NGOs for giving their contribution to society.

Youtube Videos