Under the output linked incentive plan, the domestic telecom equipment manufacturer HFCL will invest approximately Rs 425 crore for equipment manufacturing over the next four years. One of the 42 businesses chosen for the telecom PLI plan is HFCL, which qualifies it for incentives of up to Rs 652.79 crore.
“For the development and production of several qualified products under the PLI plan, HFCL has invested over Rs 425 crore. The incentive amount will be dispersed over a 5-year period starting in the fiscal years 2022–2023 and ending in 2026–2027, enabling HFCL to expand its portfolio of margin-accretive products and become more competitive on a worldwide scale “In a statement on Tuesday, it stated.