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ITI Limited signs Tripartite MoU with TCIL and CDOT to Synergize R&D Initiatives

Posted On : 2023-06-19 19:48:06( TIMEZONE : IST )

ITI Limited has signed a Tripartite MoU with Centre for Development of Telematics (CDOT), and Telecommunications Consultants India Limited (TCIL) recently as part of the larger efforts by the Government to synergize R&D efforts in the field of telecommunications aimed at establishing a frame work for cooperation between C-DOT, TCIL, and ITI in creation and delivery of innovative telecommunication products and related services for Smart Cities.

The co-operation between TCIL, ITI and C-DOT envisages joint execution of Projects that are of mutual interest to all the three Parties. Each Project shall be governed by a separate Project Agreement, in which TCIL will be the Lead Partner, C-DOT will be the Technology Partner and ITI will be the Manufacturing Partner.

Project Agreements may be entered into between the Parties, will specify how the work will be conducted, the mutual objectives of the Parties advanced, the responsibilities of the Parties discharged, payment terms and so on as part of this MOU. C-DOT is pioneer in R&D, ITI Limited has cutting-edge manufacturing capabilities, and TCIL has rich experience of installation, commissioning and operation & maintenance of telecom networks and consultancy services across the globe. This collaboration would create an ecosystem capable of delivering end-toend indigenous telecom networks/solutions.

The nature of work under the Cooperative Program shall include ensuring smooth conceptualization, procuring, supply, installation, commissioning and maintenance of C-DOT designed products and any third party product if required for the projects to be identified jointly by the Parties by sharing their competencies. The nature of work also includes marketing and pursuing Smart Cities related opportunities in India and abroad, ensuring technical compliance of the products to meet customer requirements, manufacturing and delivery of identified products and extending repair support as required by the customer.

The MOU was exchanged between Mr. Rajesh Rai, Chairman and Managing Director of ITI Limited, Mr. Rajeev Kumar, Registrar, C-DOT, and Ms. Alka Asthana, Executive Director, TCIL in the presence of Mr. Uma Shanker Pandey, Member(S), DOT, Mr. Mukesh Mangal, DDG (SA-II), DOT, Mr. B. K. Nath, DDG (SU), DOT, Dr. Pankaj Dalela, Director, C-DOT, Mr. Ravinder Ambardar, Head-Marketing & Corporate Communications, C-DOT, Mr. Sanjay Kumar, GM (Digital Transformation), TCIL, Mr. Rajesh Aggarwal, GM (CNP), BSNL, and other senior officers.

Speaking on this occasion, Mr. Rajesh Rai, CMD of ITI Limited said, "I am very happy for ITI to be part of this partnership. ITI is the first Telecom Manufacturing PSU established to achieve self-reliance in Indian Telecom sector. We have a long standing productive and enriching experience with both CDOT & TCIL and I look forward to working with both of them so that the synergies arising out will prove beneficial to the development of the nation. ITI is excited to join other DOT organizations to manufacture indigenous telecom products that will achieve Aatma Nirbharata in Indian Telecom Sector. We have the best-inclass manufacturing capabilities and I am convinced that this MOU will draw upon our collective capabilities to further build the indigenous manufacturing capabilities in India."

Dr. Pankaj Dalela, Director, C-DOT said - "This MOU will be a positive step towards meeting the telecom requirements of the country and we are truly excited to be part of this partnership. CDOT is a top-notch R&D centre of the country, and ITI Limited and TCIL are reliable telecom players of the country which make us natural partners to supply to customers in India and abroad. The collaboration will establish a robust working partnership for coordination and resource sharing."

Ms. Alka Asthana, Executive Director, TCIL said - "TCIL has been a pioneer in adopting new technologies since its inception in 1978. We have always been keen to transfer technological benefits to the citizens of India and this partnership with ITI and CDOT is one such step in the same direction. TCIL has the necessary expertise, experience, and resources to provide turnkey solutions for deployment, testing, commissioning, and maintenance of indigenous IT/Telecom technologies and this MOU will give a boost to TCIL due to the collaborative strengths."

Shares of ITI Limited was last trading in BSE at Rs. 108.65 as compared to the previous close of Rs. 108.40. The total number of shares traded during the day was 38588 in over 720 trades.

The stock hit an intraday high of Rs. 109.80 and intraday low of 107.75. The net turnover during the day was Rs. 4193382.00.