A well known supplier of communications products and solutions, HFCL Limited, recently secured 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 business 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.
According to HFCL, there is a huge opportunity for exporting its 5G equipment. The central 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 worth and make valuable contributions to the network infrastructure.
There has been no indication of the TSP's name that granted the order. It is also unclear what kind of 5G equipment is required. The fact that a TSP is placing an order for domestic 5G equipment, however, is encouraging and recognition that the Indian tech manufacturing ecosystem is improving daily.
India is leading the way in the deployment of 5G and other technological advancements, and HFCL is unwavering in its commitment to innovation and growth. Our strategy of shifting from projects to margin-accretive products, unveiling fresh offerings, and and expanding to new customers and geographies, is clearly paying off, as evidenced 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 global market for 5G last-mile equipment will 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 industry analysis.