New Delhi: The Center has announced a Rs 12,000 crore mega project to make the telecom sector self-sufficient. The project will be implemented from April 1. The aim is to make India a telecom equipment manufacturing hub.
The project aims to build telecom equipment worth Rs 2.5 lakh crore, including mobiles, in five years. In this sector, the Union Cabinet has sanctioned a scheme of Rs 12,195 crore to provide production-based benefits.
Explaining the decision of the Cabinet meeting, Union Minister of State for Communications Ravi Shankar Prasad said that the aim of the project is to sharply increase the domestic production of equipment and components.