HFCL Limited (HFCL), a prominent technology enterprise in India, has successfully secured a substantial order of INR 623 crores for supplying indigenously manufactured 5G networking equipment. This marks a notable achievement as it is the first time an Indian company has received such a large order for 5G networking equipment from a telecom service provider. The deal signifies HFCL’s increasing presence in the global telecom industry and reflects the company’s commitment to India’s “Make in India for a Global Stage” vision.
- HFCL receives a landmark purchase order of INR 623 crores for 5G networking equipment.
- This is the first major order for 5G equipment placed with an Indian company.
- The company’s focus is on end-to-end 5G networking solutions, influencing global 5G technology demand.
- The global 5G last-mile equipment market is expected to reach USD 68 billion by 2030.
- HFCL’s strategy aligns with India’s vision for technological advancement and self-reliance.
HFCL has been dedicated to developing a comprehensive portfolio of 5G networking equipment that addresses the diverse needs of telecom operators in access, transport, and last-mile networking. This focus is in tune with the global trend, where the demand for 5G technology is growing rapidly, with an expected compound annual growth rate (CAGR) of 48.3%.
Mr. Mahendra Nahata, Managing Director of HFCL, remarked on the importance of this milestone, stating, “With India being at the forefront of 5G rollout and technological evolution, HFCL remains steadfast on the path of innovation and progress. Our recent order wins are clearly a testament that our strategy of moving from projects to margin accretive products, launching new products, reaching out to new customers and new geographies is paying off well and will bolster our position even further in 2024.”
India’s swift 5G rollout has created a robust market for 5G equipment, and HFCL, with its focus on innovation and strong customer relationships, is among the top contenders to capitalize on these emerging opportunities, both in India and internationally. The company’s emphasis on quality, innovation, and a ‘Make in India’ approach positions it favorably in the global 5G landscape.