Tejas Networks, a telecommunications equipment company, disclosed that it received incentives totaling Rs 27.78 crore during the fiscal year 2023 under the Production Linked Incentive (PLI) scheme for telecom gear.
The PLI scheme is a government initiative aimed at promoting domestic manufacturing in strategic sectors, including telecommunications. Under this scheme, eligible companies receive financial incentives based on their production output and performance.
Tejas Networks’ receipt of Rs 27.78 crore in incentives indicates its successful participation in the PLI scheme and underscores its contribution to indigenous manufacturing in the telecom sector. This incentive not only provides financial support to Tejas Networks but also validates the company’s efforts in enhancing domestic production capabilities and technological innovation.
For investors and stakeholders, this disclosure may reflect positively on Tejas Networks’ financial performance and strategic positioning within the telecom industry. Additionally, it highlights the company’s alignment with government initiatives to foster local manufacturing and self-reliance in critical sectors of the economy.