Indian Telecom sector sets $10 bn export target by 2020

According to the statistics, India’s telecom exports currently stands Rs 32,000 crore, with Rs 20,000 crore of them from equipment and products and remaining 12,000 crore from the service sector. Telecom sector has announced that it would meet $10 billion export target by 2020

The Dollar Business Bureau telecom equipment Recently held Make in India conclave seems to have added synergy to the Indian Telecom sector, by encouraging the sector to move forward in indigenous production of products and equipment. According to the reports, the Telecom sector has announced that it would meet $10 billion export target by 2020. An announcement to this effect was made by the Rakesh Garg , Secretary, Department Telecom in New Delhi on Saturday. “We are targeting that exports of telecom products and services should cross $10 billion in the next five years,” Rakesh Garg was quoted to have told the sources. The government aims to grow its telecom sector by compound annual growth rate of 25% in next five years. Earlier speaking at an event, Rajeev Garg had said that the emerging markets of Africa, Latin America, SE Asia and CIS countries were the natural destination for Indian exports, since they would have the highest growth potential in the coming years. Telecom equipment is increasingly being differentiated by design and software in which India has very strong and proven capabilities. As per Telecom Export Promotion Council (TEPC), the telecom equipment industry had exported Rs 19,654 crore and around Rs 12,000 crore from telecom services in FY 2013-14. According to the statistics, India’s telecom exports currently stands Rs 32,000 crore, with Rs 20,000 crore of them from equipment and products and remaining 12,000 crore from the service sector. Union IT Minister Ravi Shankar Prasad in his statement on Friday had said that the government’s Make in India, Digital India and Skill India programmes will give huge opportunities for the Indian companies for domestic manufacturing, which will resultantly push the exports of the sector. The government has already taken decision to reduce growing imports in the electronic sector and now the recent announcement will definitely come as a challenge to the Government of India in achieving a rise in domestic production of the telecom sector under its initiatives.