Telecom sector attracted $ 12,400 million FDI in 11 years

NEW DELHI: The cumulative foreign direct investment in the country's telecom sector over period of around 11 years crossed $ 12,400 million in September 2011, an annual report of Department of Telecom released today said.

"Today, telecom is the third major sector attracting FDI inflows after services and computer software sector... Actual FDI in the telecom sector from April 2000 to September 2011 is $ 12,456 in million," the report said.

The government allows 74 per cent FDI in companies providing telecom services except for providing infrastructure, e-mail, voice mail service and manufacturing of telecom equipments, where 100 per cent FDI is allowed.

By the end of financial year 2011, cumulative FDI in the country stood at $ 10,555 million, which 18.27 per cent more compared to $ 8,924 million in March 2010.