Foreign investment on the rise in telecom sector

October 23rd, 2008 - 9:13 pm ICT by IANS  

New Delhi, Oct 23 (IANS) 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.

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