Briefs: India's foreign telecom investment grows
Foreign investment in India's telecom sector will top $2 billion this year, fueled in large part by Vodafone's 10-percent stake in Bharti Tele-Ventures.
A report in the Financial Express this week pegged the total Foreign Direct Investment in the telecom and IT sector at $9 billion.
The manufacturing of telecom networking and handsets contributed to $2.5 billion in FDI, which is described in reports as "much higher" than India's total exports of telecom services and equipment during 2003-2004.
The IT sector benefited from major commitments by chip makers and Cisco Systems to open production facilities and make other investments in the country.
Copyright 2005 by United Press International
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Briefs: India's foreign telecom investment grows (2005, December 9)
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