Free Press Journal

FDI in telecom at $10 bn in Apr-Nov: Telecom Secretary


New Delhi : Foreign direct investment in the telecom sector rose to USD 10 billion during the first eight months of 2016-17 helped by policy reforms, Telecom Secretary J S Deepak said on Wednesday, reports PTI. “FDI was USD 1.3 billion in 2013-14, USD 2.9 billion in 2014-15, and USD 1.3 billion in 2015-16 … has jumped to USD 10 billion, a 6-7 fold increase, in the first eight months of 2016-17,” Deepak said at an event on e-Governance and Digital India organised by Assocham. He added that FDI statistics were “resounding acknowledgement” of reforms undertaken in the telecom sector including spectrum harmonisation, spectrum trading and sharing, transparent allocation of airwaves through auctions, Right of Way rules and eKYC guidelines.

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