India has the second largest ecosystem for startups in the world
INVC NEWS New Delhi ,
ITI Limited yesterday signed agreements with leading startups and original equipment manufacturers (OEMs) covering the manufacturing of a wide range of ICT-IOT based solutions. These include civil and military advanced radar systems, advanced edge router systems, next generation 5G technology products, data storage and networking solutions, digital security solutions, advanced metering solutions, and wi-fi products and solutions.
The agreements were signed yesterday, in the presence of Union Minister of State (Independent Charge) for Communications and Minister of State for Railways, Shri Manoj Sinha and Chairman, Telecom Commission and Secretary, Department of Telecommunications, Smt. Aruna Sundararajan on the sidelines of the first edition of ITI’s two-day ‘ICT & IoT Startup Tech Expo’ in Bengaluru.
Speaking at the valedictory session of the Tech Expo, Shri Sinha said – “With more than 20,000 startups, India has the second largest ecosystem for startups in the world. I am extremely happy to see ITI promoting startups in the ICT and defence sectors. Such events will provide an effective platform for startups to convert their innovative ideas into marketable products and services. The agreements signed today will also help ITI diversify its’ manufacturing capabilities in partnership with the startups, thereby supporting the sustainable turnaround of ITI.”
ITI Limited has also entered into an agreement with Telecommunication Engineering Center (TEC), New Delhi for establishment of state-of-the-art telecom testing labs at its Bengaluru plant to facilitate mandatory testing of imported and indigenous telecom equipment in India.
Smt. Aruna Sundararajan, Chairman, Telecom Commission and Secretary, Department of Telecommunications in her address said “The draft National Digital Communications Policy 2018 emphasizes domestic manufacturing of digital communications equipment and components, and aims to introduce a Phased Manufacturing Program for identified product segments to accelerate the achievement of this goal. ITI will manufacture some of the innovative products that have emerged from this unique event. The new manufacturing initiatives of ITI, in partnership with the startups, should focus on creating Indian IPRs in the communications sector.”
Speaking on the occasion, Shri K Alagesan, Chairman and Managing Director, ITI Limited thanked the participants of the Tech Expo 2018, and welcomed their partnership with ITI to create mutually beneficial outcomes. More than 500 startups and tech entrepreneurs actively participated in the event.