India targets 10 billion dollar telecom exports in five years

New Delhi: The government is targetting to increase exports of telecom products and services to 10 dollar billion (about Rs 62,000 crore) in the next five years.

India's telecom exports currently stands around Rs 32,000 crore, of which Rs 20,000 crore is products and equipment and balance Rs 12,000 crore is from services.

The government aims to grow telecom exports at 25 percent CAGR in the next five years.

"We are targetting that exports of telecom products and services should cross $10 billion in the next five years," telecom secretary Rakesh Garg said in New Delhi.

Government is making efforts to reduce imports of electronic products and to meet requirement of domestic market through indigenous production. The government is offering various sops to industry to boost domestic manufacturing in the field of electronics.

The Telecom Equipment and Services Export Promotion Council (TEPC), which was established by Ministry of Commerce & Industry and Ministry of Communications & IT to promote and develop of export of telecom equipment and services, also conducted a buyer seller meet today in New Delhi.

TEPC organised the sixth edition of the meet, 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. Garg said India's ability in frugal innovation to develop world-class telecom equipments is helping operators to offer services at very low costs.

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.

TEPC has created this platform 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.

The main objective of the event is to provide opportunities to Indian telecom exporters to meet qualified overseas buyers.