Nokia Intends to Grow Manufacturing Bases in India and Benefit from PLI Scheme

Nokia has a positive outlook towards the coming year as more restrictions get lifted. Despite the supply chain issues in 2021, Nokia was able to roll out 55,000 sites till May end which included both the set up of new sites and expansion work. The relief package announced by the government has also helped the telcos and the telecom sector as a whole majorly.

Highlight

  • Nokia, a Finnish telecommunications gear manufacturer has shared its intent for growing manufacturing bases in India.
  • 2022 will see more businesses adopting digital way of conducting operations which will further increase the need for a strong telecom infrastructure in the country.
  • Nokia said the data traffic was up 20% than the usual amount because of growth in usage of digital tools.

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Nokia, a Finnish telecommunications gear manufacturer, has shared its intent for growing manufacturing bases in India. A spokesperson from Nokia said the Production Linked Incentive (PLI) scheme announced recently would help with enhancing the production of telecom and networking products by incentivising incremental investments and creating employment. Nokia said that it is an advantage if there are local manufacturing bases because it results in lesser import costs. The spokesperson said that cutting import duties on components in conjunction with the PLI scheme will benefit manufacturing in the country in the long run.

Nokia Was Able to Roll Out Over 55,000 Sites till May End

The company’s spokesperson said that Nokia has a positive outlook towards the coming year as more restrictions get lifted. Despite the supply chain issues in 2021, Nokia was able to roll out 55,000 sites by May end, which included both the set up of new sites and expansion work.

The relief package announced by the government has also helped the telcos and the telecom sector as a whole majorly. The spokesperson added that an increased 100% foreign direct investment (FDI) in telecom would help with bringing the much-needed investment in the country and would especially help with 5G and other new technology rollouts.

Nokia said the data traffic was up 20% than the usual amount because of growth in usage of digital tools such as digital events, digital conferencing, and other similar technologies.

2022 will see more businesses adopting a digital way of conducting operations which will further increase the need for strong telecom infrastructure in the country. Further, with 5G, the demand for enterprise digital services will also grow manifold which would mean that the telecom vendors will have more business to do. In the absence of Chinese vendors, companies such as Nokia and Ericsson will have a great opportunity to increase their revenue market share in India.

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