The Foreign Investment Promotion Board (FIPB) has given Qualcomm the green signal to invest in its Indian broadband wireless access (BWA) venture. According to an FIPB update, Qualcomm can invest up to Rs 7.96 billion in the business.
This will allow Qualcomm to proceed with its plans to roll out BWA services in four key circles in the country, in partnership with telecom operators.
Prior to this, in 2010, Qualcomm, Ericsson and Reliance Industries had demonstrated LTE-TDD In the country but it was reported that Qualcomm planned to exit the business altogether. Qualcomm had joined hands with Tulip Telecom and Global Holdings for the venture, as it needed an Indian partner.
Qualcomm won spectrum in Delhi, Mumbai, Kerala and Haryana, for Rs 49.12 billion.
