By IANS,
New Delhi : The telecom sector has witnessed an inflow of Rs.5,434.5 crore (Rs.54.3 billion/approx $1.118 bn) in foreign direct investment (FDI) during the current financial year (2011-12), parliament was told Wednesday.
The FDI during 2010-11 stood at Rs.7,542 crore while that during 2009-10 and 2008-09 stood at Rs.12,269.7 crore and Rs.11,684.8 crore, respectively, Minister of State for Communications and IT Milind Deora said in a written reply to the Lok Sabha.
The current telecom FDI policy in the telecom sector has 74 percent cap on basic cellular, unified access services and other value added services.
For telecom services, FDI upto 49 percent is under automatic route and beyond 49 percent and up to 74 percent through the Foreign Investment Promotion Board (FIPB) under the finance ministry’s economic affairs department.