Union Telecom Minister Manoj Sinha has indicated that the foreign direct investment (FDI) in the telecom sector has grown nearly five times in the last three years - from $1.3 billion in 2015-16 to $6.2 billion in 2017-18. He also noted that the new sectoral policy in works envisages the FDI in the telecom space to reach $100 billion by 2022. He added that FDI would be key to unleash the full potential of upcoming modern technologies.
Sinha has stated that the government is keen on providing 5G services in India at a par with global standards in 2020, which will play a key role in harnessing new emerging technologies like machine-to-machine communications, internet of things, artificial intelligence, etc. He also said that keeping all the future technologies in mind and their potential, draft National Digital Communications Policy (NDCP) 2018 has been formulated.
The minister further said that India needs massive investments in developing newer technologies which are accessible and affordable to the people and at the same time create productive employment. He also said that India is poised to become the third largest economy in the world over the next two decades and it is the most opportune moment for the investors across the world to invest in India.