HFCL
Leading producer of communications products and solutions, HFCL Limited, recently obtained an order worth Rs 623 crore to supply 5G networking equipment made in India for an Indian telecom service provider. The first significant order for 5G equipment ever placed by a telecom service provider (TSP) in India has been awarded to HFCL. The company has been making investments to expand its line of 5G networking equipment. HFCL announced 5G CPE (Consumer Premises Equipment) and FWA (Fixed Wireless Access) in 2023.
TSP’s name that granted the order was not disclosed. It is also unclear what type of 5G equipment is required. The fact that a TSP is placing an order for domestic 5G equipment, however, provides hope and recognition that the Indian tech manufacturing environment is improving continuously.
According to HFCL, there is a huge opportunity for exporting its 5G equipment. The national government’s ‘Make in India’ mission is further enhanced by the items produced by HFCL. The rapid implementation of 5G in India offers a chance for regional businesses like HFCL to demonstrate their value and make valuable contributions to the network infrastructure.
“HFCL continues to go ahead on the road of innovation and improvement, with India leading the way in the deployment of 5G and advances in technology. Our strategy of shifting from projects to margin-accretive products, launching new products, reaching out to new customers and geographies, is clearly paying off, as shown by our recent order wins, which will further strengthen our position in 2024, according to Mahendra Nahata, Managing Director of HFCL.
Industry projections state that by 2030, the worldwide market for 5G last-mile equipment would have grown to USD 68 billion. This change is expected to have a big impact on the worldwide 5G technology demand boom, which is expected to grow at an astounding CAGR of 48.3%, according to a new Future Market Insights analysis.
