BUSINESS

FDI flow into telecom at $2.8 b in April-February

The telecom sector in the country attracted foreign direct investment of $2.85 billion during the April-February period of the last fiscal, which is the highest FDI inflow into the sector in the last five years.

It had received $1.3 billion in FDI in the financial year 2013-14, $0.3 billion in 2012-13, $1.99 billion in 2011-12 and $1.66 billion in 2010-11.

“2014-15 saw highest FDI in telecom in last five years. Shows growing confidence of investors in India,” Telecom Minister Ravi Shankar Prasad said on the micro blogging site Twitter.

According to DIPP data, telecommunications sector accounts for seven per cent for the total FDI inflows into the country, after services sector (17 per cent) and construction development sector (10 per cent).

The cumulative FDI inflows in the telecom sector stood at $17.01 billion at the end of February 2015.

In a separate tweet, the minister pointed out growth in telephone connections in the country occurred at a faster pace under the Narendra Modi-led government.

“Growth in phone connections in India was much faster during last one year,” he tweeted.

During May 2013-March 2014, when UPA government was in power, urban connections grew at 1.97 per cent, rural at 7.17 per cent and total telephone connections rose by 4 per cent, according to the minister’s tweet.

While during May 2014 and March 2015, the growth was 4.28 per cent, 9.62 per cent and 6.45 per cent for urban, rural and total telephone connections, respectively.



“2014-15 saw highest FDI in telecom in last five years. Shows growing confidence of investors in India,” Telecom Minister Ravi Shankar Prasad said on the micro blogging site Twitter.