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Indian telecom sector received $10 billion worth of FDI during April-November 2016, says DoT

December 01, 2016
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According to the Department of Telecommunications (DoT), the Indian telecom sector received foreign direct investment (FDI) worth $10 billion during the April-November 2016 period as against FDI inflow of $1.3 billion in 2014-15 and $2.9 billion during 2015-16.

The government has attributed this increase in FDI to the various telecom sector reforms that it undertook during the past year.

Meanwhile, DoT has stressed the need to popularise and simplify Unstructured Supplementary Service Data (USSD)-based mobile banking transactions. The Telecom Regulatory Authority of India recently slashed the USSD tariff from Rs 1.50 per session to Rs 0.50 per transaction to encourage its usage.

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