25 Jan 2017

Phones for everybody!

FDI flows in the first seven months of FY17 increased by 27% over the comparable period of FY16, reaching an aggregate of $27.8bn. In calendar 2016, foreign portfolio investment went the opposite direction, as FPIs sold a net $3bn in so-called “hot money”. The government raised $3bn in the first eight months of FY17 by selling stakes in state-owned enterprises, about 60% of its target for the year. By the end of 2016, India had 1.1bn active mobile phone SIM cards, in a population of 1.3bn!

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