BENGALURU, India, Feb. 14, 2024 -- Saankhya Labs, a subsidiary of Tejas Networks (BSE: 540595) (NSE: TEJASNET), today announced that the Ministry of Electronics and Information Technology, Government of India (MeitY) has approved its application under Government of India's Semiconductor Design Linked Incentive (DLI) scheme for the development of a System-on-Chip (SoC) for 5G telecom infrastructure equipment. The Design Linked Incentive (DLI) Scheme offers financial incentives as well as design infrastructure support across various stages of development and deployment of semiconductor design for Integrated Circuits (ICs), Chipsets, System on Chips (SoCs), Systems & IP Cores. Saankhya's application for development of SoC was evaluated by CDAC (Centre for Development of Advanced Computing) on behalf of MeitY and granted approval for reimbursement on completion of development milestones.
Mr. Parag Naik, CEO & Managing Director of Saankhya Labs, said, "We thank the Ministry of Electronics and Information Technology, Government of India and CDAC, the DLI implementing agency, for approving our application under the Semiconductor Design Linked Incentive scheme for the Development of a System-on-Chip for 5G Telecom infrastructure equipment. DLI is an excellent policy initiative by Government of India that helps Indian R&D companies to build valuable Intellectual Property and develop world-class semiconductor products for domestic and international markets. As India's leading R&D-driven semiconductor and telecom products company, we continue to invest in path breaking technologies and indigenisation of key components to realize the vision of an Atmanirbhar Bharat in the semiconductor and telecom sector."
About Saankhya Labs
Saankhya Labs, a subsidiary of Tejas Networks, is an innovative leading-edge technology company with a breadth of wireless communication system solutions. Saankhya offers a wide range of communication products for 5G NR, Broadcast and Satellite Communication applications. With over 100 International Technology Patents and unique 'chipset-to-systems' expertise, Saankhya's solutions include award-winning SDR chipsets for communication, next gen OpenRAN Solutions for 5G networks, multi-standard direct to mobile (D2M) broadcast and Satcom solutions.
For more information, visit Saankhya Labs at www.saankhyalabs.com
About Tejas Networks Ltd.
Tejas Networks designs and manufactures high-performance wireline and wireless networking products for telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. Tejas Networks Ltd. is a part of the Tata Group, with Panatone Finvest Ltd. (a subsidiary of Tata Sons Pvt. Ltd.) being the majority shareholder.
For more information, visit Tejas Networks Ltd. at https://www.tejasnetworks.com
SAFE HARBOUR
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the industry in which the Company operates. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.
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