Government Approves Investment of 989 crore

The Govt has approved 3 investment proposals of Sprint Nextel, SDG Software, and Dish TV, with the total investment of 989.25 crore in the ICT segment. Sprint’s proposal of 6 crore is to induce foreign equity into an Indian company to provide wireline based NLD, ILD, and internet services. SDG Software would invest 3 crore for the allotment of partly paid up shares, which were later made fully paid up within 2 months. The third approval in the segment has been granted to Dish TV which had its proposal of 980 crore to increase foreign equity to produce telecommunication equipment and provide management and marketing of ‘Agrani’ services, dealing in the area of mobile satellite communications.