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Telecom sector attracts over $4 billion FDI in nearly two years: Ravi Shankar Prasad

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Sanjeeb Kumar Sahoo
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Ravi Shankar Prasad

NEW DELHI: The Indian Telecom Minister Ravi Shankar Prasad said telecom sector attracted over $four billion worth foreign direct investments in nearly two years since April 2014 in Lok Sabha.

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Emphasizing that the government has taken many proactive steps to promote growth in the sector, he said that "the quality of service issues has never been looked into so seriously and monitored, as is being done now."

"FDI equity inflow in telecom sector from April 2014 to February 2016, has reached $4,091 million which is more than double that came in the corresponding period of previous two years ie. April 2012 to March 2014 ($1,611 million)," he said during the question hour.

At current exchange rate, $4.09 billion translates to more than Rs 26,000 crore," reported by PTI.

The telecom minister said the total number of telephone and wireless connections have crossed the 1-billion mark in the current financal year.

"Today, with more than 1 million connections, India is the country second in number only after China," he added.

india telecom-sector ravi-shankar-prasad
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