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Swaraj asks US to foray into telecom, projects scope for $ 50 b investment, hints at 50-year vision plan

Information, Broadcasting and Communication minister Sushma Swaraj has sought United States investment in a big way in India's telecommunication sector which, she says, needs a new capital injection of more than $ 50 billion over the next ten years.

Speaking at a luncheon, jointly organised by the US-India Business Council, the Telecommunication Industry Association and the Federation of Indian Chamber of Commerce and Industry in Washington on Tuesday, she said, ''India is all set to become a newly developed country, especially in telecommunications, considering its strengths in software development and huge market potential.''

''To achieve this, we need to have strategic investment in infrastructure in the shortest possible time,'' she said, adding, ''the opportunity beckons investors, manufacturers, technologists and entrepreneurs having confidence of success in India.''

She said the Bharatiya Janata Party government had taken some initiatives to make this possible and many more were on the anvil to create conducive investment climate and give impetus to the growth process.

Swaraj said she had personally come to assure the US investors that the BJP government was not opposed to the idea of foreign direct investment in infrastructure sector.

She had one-on-one meetings with chief executives of the American telecommunication companies during her visit. ''Investments will be encouraged to make India an attractive place for regional international gateway to cater to emerging integrated telecom services,'' Swaraj remarked.

She said a user- and investor-friendly new telecom policy was being formulated. It aimed at achieving the desired impetus of accelerated growth and global connectivity, she added.

She said her endeavour would be to put forth a 50-year telecom perspective plan for India by the year-end. ''I see India a giant economy in not too distant a future. You may think I'm crystal gazing but I'm confident we will be there soon.''

To realise this mission, she pointed out, she intended to set up an empowered government-industry partnership group which would recommend a path of smooth evolution leading to telecom revolution in India.

UNI