Telecom sector received FDI worth over $9.79 billion from 2014-15 | business-news | Hindustan Times
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Telecom sector received FDI worth over $9.79 billion from 2014-15

FDI equity inflows in telecom sector between financial years 2014-15 and 2016-17 and April-May 2017 totalled $ 9,790.40 million, minister of state for electronics and IT P P Chaudhary said in a written reply to the Lok Sabha.

business Updated: Aug 02, 2017 18:06 IST
FDI up to 100 per cent is allowed in manufacturing of telecom products under the automatic route in India.
FDI up to 100 per cent is allowed in manufacturing of telecom products under the automatic route in India.(AFP/Getty Images)

The country received foreign direct investment (FDI) of over $ 9.79 billion since 2014-15 in the telecom sector, Parliament was informed on Wednesday.

As per the Department of Industrial Policy and Promotion (DIPP), FDI equity inflows in telecom sector between financial years 2014-15 and 2016-17 and April-May 2017 totalled $ 9,790.40 million, minister of state for electronics and IT P P Chaudhary said in a written reply to the Lok Sabha.

The FDI inflow in 2014-15 was $ 2,894.94 million, $ 1,324.40 million (2015-16), $ 5,563.69 million (2016-17) and $ 7.36 million (April-May 2017), he added.

The minister said the government is taking initiatives to promote manufacturing in the telecommunication sector in the country.

“Electronics and telecommunications manufacturing is one of the 25 focus sectors of the Make-in-India programme, which seeks to transform India into a global design and manufacturing hub,” he said.

FDI up to 100 per cent is allowed in manufacturing of telecom products under the automatic route, he added.