FDI in tele­com grows to $1.3 bn

Voice&Data - - NEWS BYTES -

For­eign in­vest­ments in the tele­com sec­tor stood at $1.3 bn dur­ing FY2014 as against $304 mn in FY2013, ac­cord­ing to the Eco­nomic survey tabled in Par­lia­ment. “A se­ries of mea­sures by the gov­ern­ment in in­no­va­tions in wire­less tech­nol­ogy and ac­tive par­tic­i­pa­tion by the pri­vate sec­tor played an im­por­tant role in the growth of the tele­com sec­tor in the coun­try,” the survey said. The sec­tor had recorded an 84 per cent fall in in­vest­ment in FY2013. The num­ber of to­tal tele­phone con­nec­tions in the coun­try rose to 933.02 mn at the end of March 31, 2014, from 898.02 mn a year ago. How­ever, the to­tal con­nec­tions at the end of March 2012 stood at 951.35 mn. FDI in tele­com was higher as com­pared to other key sec­tors such as fi­nan­cial/non-fi­nan­cial ser vices, con­str uc­tion, ho­tels and tourism. The top five sec­tors ac­counted for 45 per cent of to­tal in­vest­ments in the coun­try’s last fis­cal. Dur­ing 2013- 14, t he gov­ern­ment raised Rs 61,162 crore from spec­trum auc­tion. The fi­nal price was 27.6 per cent more than the min­i­mum price of tele­com ra­diowaves fixed by the gov­ern­ment at that time. The survey also said: “As on March 31, 2014, a to­tal of 5,89,783 broad­band con­nec­tions had been pro­vided and 14,186 kiosks were set up in ru­ral and re­mote ar­eas.”

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.