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Tejas Networks to invest Rs 750 crore post approval under PLI Scheme for telecom products

Tejas Networks to invest Rs 750 crore post approval under PLI Scheme for telecom products

Tejas Networks to invest Rs 750 crore post approval under PLI Scheme for telecom products
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By CNBCTV18.com Nov 2, 2022 11:59 AM IST (Published)

Shares of Tejas Networks have risen over 60 percent this year.

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Tejas Networks has received approval from the Department of Telecommunications (DoT) under the design-led PLI scheme for manufacturing Telecom and Networking Products.
The Bengaluru-based telecom networking products manufacturer has committed to making a minimum investment of Rs 750 crore during the scheme period.
Tejas Networks is among the 17 companies that received approval for an additional incentive of 1 percent under the design-led manufacturing criteria.
Part of the Tata Group, Tejas Networks designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence, and government entities in over 75 countries.
The Ministry of Communications, on October 31, granted approval to 42 companies, including 28 MSMEs, under the PLI Scheme for Telecom and Networking Products. These companies have committed total investments of Rs 4,115 crore.
Among other companies that have received similar approvals include HFCL, who will receive incentives of up to Rs 650 crore. The total incentives will be availed over a period of five years.
The PLI Scheme was launched by the Central government to make India a global manufacturing hub for Telecom and Networking products and to boost the export of these products under the Make in India initiative.
Shares of Tejas Networks are trading 0.4 percent higher at Rs 684.
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