New Delhi: The Government of India aims to increase exports of telecom products and services at 25 per cent compund annual growth rate (CAGR) in the next five years to reach US$ 10 billion, said Mr Rakesh Garg, Secretary, Department of Telecommunications (DoT), Government of India.
Telecom exports from India currently stands around Rs 32,000 crore (US$ 5.14 billion), of which Rs 20,000 crore (US$ 3.21 billion) comes from products and equipment and the remaining Rs 12,000 crore (US$ 1.92 billion) from services.
The Government of India is making efforts to reduce electronic products imports and to meet requirement of domestic market through indigenous production and has also offered various incentives to the industry to boost domestic manufacturing in the field of electronics.
The Ministry of Commerce and Industry and Ministry of Communications & Information Technology have established the Telecom Equipment and Services Export Promotion Council (TEPC) to promote and develop the export of telecom equipment and services has conducted the sixth edition of buyer seller meet on February 13, 2015, in which 49 buyers from 19 countries participated for sourcing telecom equipment and services. The buyers represent telecom service providers and system integrators largely from South-East Asia, Latin America as well as from Africa.
TEPC has created this platform with the objective to bring potential buyers from across the globe to meet the quality telecom equipment and services suppliers of India to develop long-term business relations.
India's ability in frugal innovation to develop world-class telecom equipments is helping operators to offer services at very low costs, saig Mr Garg. He laid emphasis on the need to build long-term partnerships between overseas buyers and Indian companies, keeping in view the continuous technological changes happening in telecom sector.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.