India to deploy Rs.17,500 crore to boost local telecom products

India to deploy Rs.17,500 crore (2.5B EUR) to boost local telecom products. India has proposed to set up three funds with a combined corpus of Rs.17,500 crore to boost local research and manufacturing of telecom products as it seeks to cut dependence on imports at a time when the current-account deficit has widened to a record and also to reduce security concerns posed by such imports, particularly from China. The government will initially allot Rs.5,000 crore to the Telecom Research and Development Fund, Rs.2,500 crore to the Telecom Entrepreneurship Promotion Fund and Rs.10,000 crore to the Telecom Manufacturing Promotion Fund during the 12th Five-year Plan ending March 2017. Read More