Ashwini Vaishnaw, Union Minister for Communications, Electronics, and IT, said that over the next few years, investments in telecom manufacturing are anticipated to reach Rs 4,000 crore as India becomes a reliable value chain partner.

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.