Indian telecom company HFCL plans to double its export revenue in FY23 with an extensive portfolio of 5G network products. Mainly engaged in manufacturing optical fibre cables, HFCL wants further expansion into 5G network products and associated network equipment.

Managing Director of HFCL Mahendra Nahata said that the company plans to increase its export revenue by 2.5 times in FY23. HFCL’s portfolio of 5G network products will play a crucial role in increasing sales. The Emergence of the Open Radio Access Network (Open RAN) allows smaller telecom players to enter the telecommunication equipment market. Considering this as an opportunity, HFCL has started to deepen its footprint in the global market. Earlier this month, the company collaborated with Qualcomm to strengthen its product portfolio.
Mahendra Nahata further said that HFCL plans to utilise its lineup of 5G products to shift its revenue model. This year the company expected 20% of its revenue to come through exports. Also, the company hopes that its product-based revenue will be 43% this year, and subsequently, it will increase to 58-59%. The idea is to increase revenue from products and not from projects.

He noted that HFCL has not applied for the PLI scheme even though the government is trying to incentivise indigenous design by offering Indian telecom gear makers a design-led production-linked incentive (PLI) scheme. HFCL is the beneficiary of the original PLI scheme for network vendors.

Nahata also informed that HFCL is a contender for bidding for the BharatNet tender. Since the BharatNet tender saw no bidders this year, the Department of Telecommunications will re-evaluate the tender and release it in September.