2021 Biggest Surprise | Samsung may apply for PLI scheme for telecom | Samsung’s 5G gear stuck

SECOND VLOG CHANNEL – https://www.youtube.com/watch?v=Oc7wEwD5dmk 2021 Biggest Surprise | Samsung may apply for PLI scheme for telecom | Samsung’s 5G gear stuck LINKS- https://telecom.economictimes.indiatimes.com/news/samsungs-5g-gear-stuck-at-mumbai-port/84365715 https://telecom.economictimes.indiatimes.com/news/samsung-may-apply-for-scheme-if-government-extends-the-deadline/84365681 Samsung’s 5G gear stuck at Mumbai port Samsung’s offices in Mumbai and New Delhi were…

2021 Biggest Surprise | Samsung may apply for PLI scheme for telecom | Samsung’s 5G gear stuck

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SECOND VLOG CHANNEL – https://www.youtube.com/watch?v=Oc7wEwD5dmk

2021 Biggest Surprise | Samsung may apply for PLI scheme for telecom | Samsung’s 5G gear stuck
LINKS- https://telecom.economictimes.indiatimes.com/news/samsungs-5g-gear-stuck-at-mumbai-port/84365715
https://telecom.economictimes.indiatimes.com/news/samsung-may-apply-for-scheme-if-government-extends-the-deadline/84365681

Samsung’s 5G gear stuck at Mumbai port
Samsung’s offices in Mumbai and New Delhi were last week “searched” by DRI to investigate possible evasion of customs duties for telecom network equipment through the FTA route without proper value addition as per rules.
Kolkata | New Delhi: A consignment of Samsung’s 5G telecom network equipment worth around Rs 5-8 crore is stuck at the Mumbai port with officials from the directorate of revenue intelligence (DRI) telling the company to pay duty and to get the goods released. “The company is taking legal opinion,” an executive said.

Samsung’s offices in Mumbai and New Delhi were last week “searched” by DRI to investigate possible evasion of customs duties for telecom network equipment through the FTA route without proper value addition as per rules.

A person aware of the development said DRI officials were evaluating details provided by Samsung on imports of equipment and would determine the extent of duty evasion. The consignment held by customs will be released once the duty leviable on the consignment is paid, the person added.
Samsung may apply for PLI scheme for telecom if government extends the deadline
The Centre had expressed its dissatisfaction multiple times to the top brass of the Korean giant before the Cabinet reshuffle for not applying in the PLI scheme for telecom equipment, through senior bureaucrats in ministry of electronics and IT, and the telecommunications department.
Samsung Electronics India is considering approaching the government seeking an extension of the deadline under the production-linked incentive (PLI) scheme for telecom networking equipment, so that it can apply after having initially decided not to participate, two senior industry executives said.

The Centre had expressed its dissatisfaction multiple times to the top brass of the Korean giant before the Cabinet reshuffle for not applying in the PLI scheme for telecom equipment, through senior bureaucrats in ministry of electronics and IT, and the telecommunications department.

Samsung had informed the government earlier that it would not participate, since setting up a plant for network equipment was not viable right now in India with just one client, Reliance Jio Infocomm. Samsung has been importing the equipment duty-free through the free trade agreement (FTA) route from South Korea and Vietnam. The deadline for receiving PLI applications closed on July 3. An email sent to Samsung India seeking comment remained unanswered at Monday press time.
“There is pressure on Samsung for not participating in the PLI scheme for telecom network equipment. The government wants Samsung to invest to make India one of its global production hubs. The company is re-evaluating and may request the government if its application can be accepted since the deadline is now over,” said an industry executive.

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