According to Kapil Sibal, Minister for Communications and IT, UK-based telecom service provider, Vodafone Group Plc is going to invest more than $2 billion in India.
The operators? decision follows the Indian government?s move to allow 100 per cent foreign direct investment in the telecom sector.
In addition, the minister has stated that the government supports consolidation in the telecom sector and is working towards bringing out a merger and acquisition (M&A) policy for the industry by November 2013.
He also stated that the government was examining the possibility of holding another auction for awarding 3G spectrum to the operators, which would be the first since 2010. Further, in a year?s time, the government plans to auction 4G spectrum in the 700 MHz band.
