Indian state-run telcos BSNL and MTNL must continue procuring 30% of orders from state-run telecom equipment maker ITI for another two years.
In order to keep the company afloat, the government also reportedly asked the two telcos to give 70% advance…
Indian state-run telcos BSNL and MTNL must continue procuring 30% of orders from state-run telecom equipment maker ITI for another two years.
In order to keep the company afloat, the government also reportedly asked the two telcos to give 70% advance payment against the orders placed with ITI, the reports wrote citing an official statement.
Orders from BSNL and MTNL reportedly account for 70% of ITI’s revenues. The equipment supplier reported a Rs 35.13bn (US$794m) loss for the financial year through March 2010.
