Govt approves 31 proposals entailing Rs 3,345 cr investment

New Delhi: The Department of Telecom (DoT) on Thursday approved 31 proposals entailing an investment of Rs 3,345 crore over the next four years.

Global firms including Nokia, Jabil Circuits, Foxconn, Flextronics, Sanmina-SCI, Rising Star and domestic companies Dixon Technologies, Tata Group firm Akashastha Technologies and Tejas Networks, HFCL, Syrma Technology, ITI limited, Neolync Tele Communications and VVDN Technologies have qualified for the scheme.

The applicants have committed to invest Rs 3,345 crore in the next 4 years and generate incremental employment for more than 40,000 people with expected incremental production of worth around Rs 1.82 lakh crore over the scheme period.

"Whatever product you make should be affordable, sustainable and it should be world class. Rs 3,345 crore is not a big amount. We want to give more incentive to you on condition that your product should be of that level. The government is helping you (industry players) as a catalyst," Minister of State for Communications Devusinh Chauhan said.

The scheme is expected to boost domestic research and development of new products on which 15 per cent of the committed investment could be invested.