ITI seeks Rs 6,000 crore to produce defence kits

Ailing telecom equipment maker ITI Ltd has sought Rs 6,000 crore from the government to diversify into manufacturing products for defence services and pay salary arrears to its employees.

“ITI Ltd has submitted a plan to the Department of Public Enterprises (DPE) asking for Rs 6,000 crore to manufacture and supply technology equipment required by the defence services and also to pay arrears to the staff,” officials told PTI.

Due to less number of orders from MTNL and BSNL, ITI wants to undertake projects related to defence sector, they added.

In the last five years, the government had infused about Rs 4,000 crore in the company for its revival. However, there has been no improvement in the health of the company.

The indications are that the state-run unit may get the financial assistance of Rs 6,000 crore.

During 2011-12, the company suffered a net loss of Rs 113 crore.

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