FDI in telecom sector jumps manifold to $2.33 billion in April-JulyNew Delhi: After registering a huge decline in the recent past, foreign direct investment in the telecom sector grew manifold to $2.33 billion in the first four months of 2014-15.During the entire 2013-14 fiscal, the
New Delhi: After registering a huge decline in the recent past, foreign direct investment in the telecom sector grew manifold to $2.33 billion in the first four months of 2014-15.
During the entire 2013-14 fiscal, the sector had received a total FDI of $1.3 billion.
FDI in the telecom sector, which includes radio paging, cellular mobile, basic telephone services, attracted only $12 million during April-July period of the last fiscal, as per the Department of Industrial Policy and Promotion.
According to an industry expert, payment of spectrum auction and investments in network rollout are some of the factors that have helped attract more FDI in the sector.
In 2011-12, 2010-11 and 2009-10, the sector attracted FDI worth $1.99 billion, $1.66 billion and $2.55 billion respectively.
Increase in the foreign investment inflows in the sector helped the overall FDI, which increased by 52 per cent to $10.73 billion during April-July this fiscal.
Other sectors that received large FDI inflows during the first four-months of the current fiscal include services ($1.03 billion), Pharmaceuticals ($886 million) and construction ($430 million).
During the period, India received maximum FDI from Mauritius ($3.38 billion), Singapore ($1.66 billion), the UK ($824 million) and Japan ($834 million).