The telecom space witnessed FDI of Rs 587.82 billion over the past 13 years: Milind Deora

According to Milind Deora, minister of state for communications and IT, the Indian telecom space witnessed inflow of Rs 587.82 billion as foreign direct investment (FDI) between April 2000 and May 2013, say news reports.

Deora added that this amount accounted for 7 per cent of the total FDI inflow in the country.

For the telecom space, FDI includes radio paging, cellular mobile and basic telephone services. Owing to an uncertain regulatory environment, in 2012-13, the FDI amount in this space declined by 81.64 per cent to Rs 16.54 billion.

To improve the situation, the government recently raised the FDI limit in the sector to 100 per cent.