FDI In Telecom Rises 7 Times To Touch $10 Bn In 2016

Riding high on policy reforms, foreign direct investments (FDI) in the telecom sector has seen tremendous growth in the current fiscal year and has touched $10 billion in last eight months.

Telecom secretary said this while addressing an industry meet organised by Assocham.

“FDI was $1.3 billion in 2013-14, $2.9 billion in 2014-15 and $1.3 billion in 2015-16. This has jumped to $10 billion in 2015-16, a 6 to 7 fold increase, in the first eight of this year,” he said.

Giving credit to the policy reforms undertaken by the current government, he said these numbers are ‘resounding acknowledgement’ of the same. Many reforms were undertaken during this government including eKYC guidelines, spectrum harmonisation, spectrum trading and sharing, and transparent allocation of spectrum through auctions.

As recent as a week back, the government has reformed the right of the way (RoW) guidelines.

“The entire government is committed to fundamental reforms like GST and decision of demonetisation of currency and many others for ease of doing business. In telecom sector, we have tried to facilitate industry by a host of spectrum management reforms, the right of way rules which makes it easier to set up telecom infrastructure by making decisions on applications transparent and time bound, as well as eKYC for acquisition of customers,” he said.

The secretary further said the next set of reforms would see more collaboration among the industry players to bring the desired results.

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