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Rediff News  All News  » Business » Telecom export to double in 5 years, says govt

Telecom export to double in 5 years, says govt

February 14, 2015 11:02 IST

TelecomThe government expects to double the export of telecom equipment and services to $10 billion (Rs 62,000 crore) in the next five years.

Of the current telecom export of Rs 32,000 crore (Rs 320 billion), about Rs 20,000 crore (Rs 200 billion) comes from equipment and products and Rs 12,000 crore (Rs 120 billion) from telecom services such as consultancy projects.

“We expect exports to grow at a CAGR (compounded annual rate) of 25 per cent to cross $10 billion in the next five years,” department of telecommunications secretary Rakesh Garg told reporters.

Telecom Equipment and Services Export Promotion Council, established to promote and develop export of telecom equipment and services, conducted a buyer-seller meet on Friday in New Delhi.

Buyers from 19 countries participated and showed interest in sourcing from India.

They represented telecom service providers and system integrators from mainly Southeast Asia, Latin America and Africa.

In 2013-14, India imported telecom products worth Rs 69,516 crore (Rs 695.16 billion). Exports have been Rs 20,475 crore (Rs 204.75 billion).

The government has been offering various sops to industry to boost domestic manufacturing under its Make in India plan.

BS Reporter in New Delhi