Telecom equipment suppliers soar after Govt amends equipment procurement norms

12 Jul 2022 , 02:24 PM

ITI (up 17.93%), HFCL (up 7.13%), Tejas Networks (up 5.50%) edged higher. Meanwhile, the S&P BSE Telecom advanced 1.81% to 1,618.13 while the benchmark Sensex shed 0.48% to currently trade at 54,129.49. The Department Of Telecommunications has released a circular that stated an amendment to the unified license for procurement of telecommunication equipment. The circular amended the licensing conditions for procurement of telecom equipment, mandating wireless service providers to buy only from suppliers designated as trusted sources by the government. With effect from 15th June 2021, the licensee, shall only connect trusted products in its network and also seek permission from designated authority for upgradation or expansion of existing network utilizing the telecommunication equipment not designated as trusted products. However, these directions will not affect ongoing annual maintenance contracts (AMC) or updates to existing equipment already inducted in the network as on date of effect, the notification said. As per reports, this would prevent Chinese equipment providers from supplying gear to Indian wireless service providers. Powered by Capital Market – Live News