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The government is looking at the funding of $100 billion for the draft National Digital Telecommunications Policy and is looking at Foreign Direct Investment (FDI) for the same by 2022.
Speaking at the “FDI in Telecom Sector: The Way Ahead” organised by the Department of Telecommunications and Indian Institute of Foreign Trade here on Tuesday, Manoj Sinha , Union Minister of Communications said that as we move from telecom India to digital India FDI is crucial to unlock key and emerging technologies.
FDI in the telecom sector has jumped nearly five times in the last 3 years, from $1.3 billion in 2015-16 to $6.2 Billion in 2017-18.
“India needs massive investment in developing newer technologies which are accessible and affordable to the people and at the same time creates productive employment. For India to utilise its demographic dividend it is absolutely necessary to create semi-skilled jobs in short run and the Telecom sector will play an important role in creating those employment opportunities,” he added.
“Telecom sector in India has witnessed some upheaval in last 2-3 years. There were many mergers and acquisitions and a couple of unfortunate insolvency proceedings. However, consolidation in the sector will strengthen it as the worst is behind us,” Sinha said.
To mitigate the stress in Telecom Sector and promote ease of doing business, an inter-Ministerial Group was established and most of their recommendations have been accepted and are under various stages of implementation.
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