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Sterlite To Invest Rs 400 Crore In Modi’s Ambitious National Optical Fibre Network Project

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Right after Narendra Modi projected a superlative fate for India with his Digital India Campaign, technology giants are meekly eyeing an ample pie of this fortune and earn a lofty perch in Indian technology landscape as the nation steps into a complete new era of tech-development.

Pitching right in time, Sterlite Technologies said that it will be investing Rs. 400 crore into its operations as it targets a major part of the Rs 72,000-crore National Optical Fibre Network (NOFN) or BharatNet project.

Sterlite Technologies is an Indian manufacturer of optical fibers, telecommunication cables and power transmission conductors and exports optical fiber to overseas markets in China, Europe and South East Asia. It is India’s only fully integrated Optical Fiber producer and one of the largest suppliers of Optical Fibers to overseas markets in China, Europe and South East Asia.

Anil Agarwal, non-executive chairman of Sterlite Technologies said-

This (BharatNet) is a basic thing. Fundamentally, it is to connect India. There is a huge opportunity. We have put in close to Rs 600 crore. Over the next few years we will invest another Rs 300-400 crore in Sterlite.

Ever since President Modi held command over his new post, he has been pitching his strong vision of a digitally connected and a radically developed nation, and in order to accomplish his objective, or we may say the nation’s objective, he flagged off Digital India Campaign.

National Optical Fibre Network (NOFN) or BharatNet is the key element of the Digital India Campaign that aims to connect 2.5 lakh gram panchayats with high speed broadband by December 2017 with a budget of around Rs 72,778 crore.

Sterlite Technologies will be expanding its optical fiber capacity to 30 million km in stages, up by 8 million km. On the optical fibre cable (OFC) requirement for BharatNet project, CEO Mr Anand said-

Total OFC requirement for BharatNet will be around 50 million km, which will largely be done by us. Some will be imported, but we fulfil all the characteristics of ‘Make in India’.

Also, Anil Agarwal recently announced that he will be investing Rs 40,000 crore in setting up an LCD panel manufacturing plant, which will again be required to provide the necessary boost to Digital India campaign.

Senior Writer

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