Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
The Digital India project that aims to offer a one-stop shop for government services would use the mobile phone as the backbone of its delivery mechanism. The government hopes the Rs 1.13-lakh crore initiative that seeks to transform India into a connected economy to also attract investment in electronics manufacturing, create millions of jobs and support trade.
In an interview with ET, telecom minister Ravi Shankar Prasad said the government of Prime Minister Narendra Modi wants to ensure a smartphone in the hands of every citizen by 2019. Currently, nearly 74% of the population has mobile phones, most of which though is in the hands of urban India.
“We want to ensure that all the services can be provided through a mobile handset, especially, health, education, various government services and retail,” Prasad said. “We want it (handset) to be used as a tool for empowerment. We will need to incentivise its usage in order to promote the social and the economic objectives of the government.” Original post at ET Telecom