India, Sept. 21 -- Twenty-four companies have initiated the application process for setting up manufacturing units in the proposed Telecom Manufacturing Zone (TMZ) in Gwalior, with investment proposals totalling around Rs 5,500 crore, according to the Department of Telecommunications (DoT).

The development follows investor engagements held in Delhi and Mumbai in August, where companies committed around Rs 3,500 crore and Rs 2,000 crore, respectively. The government now says the interest has moved beyond preliminary commitments, with the participating companies entering the application process linked to land allocation.

The proposed zone is being positioned as Asia's first dedicated Telecom Manufacturing Zone and is intended to bring tel...