Foreign investment on the rise in telecom sector
Saturday, 25 October 2008, 17:24 IST
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New Delhi: Foreign investment in the telecom sector has risen considerably from $477.74 million to $1.26 billion this year, parliament was informed Thursday. "According to the National Association of Software and Service Companies (Nasscom), the total software and services exports in 2006-07 and 2007-08 were $31.3 billion and $40.3 billion respectively," Minister of State for Communications and IT Jyotiraditya Scindia said in a written reply in the Rajya Sabha. While the computer software and hardware sector received foreign investment to the tune of $1.41 billion this year as against $2.61 billion in 2007, the electronics sector saw a surge in foreign investment with $108.65 million. The government allows 74 percent foreign investment in telecom companies.
Source: IANS
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