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Indian market has a lot of depth, says Sibal

New Delhi, Tue, 07 Feb 2012 ANI

New Delhi, Feb 7 (ANI): Telecom Minister Kapil Sibal, who met Norwegian Information Technology Minister Rigmor Aasrud, here on Tuesday said the Indian market has a lot of depth and one should not doubt its capability to attract investments.


"The Indian market has a lot of depth and many opportunities and I don't think that anyone should have doubts about this sector that it would not attract any investment," Sibal told mediapersons after the meeting.


" Only time will tell. I believe that this is an opportunity for us to show clarity and we will use that opportunity to present the country with a process that is precise, transparent, clear and with fair and reasonable application," he added.


Concerned over the impact of a recent Supreme Court verdict that led to the cancellation of 122 2G licences, Aasrud had sought an appointment with Sibal to discuss the issue.


Telenor's Asia Operations Head, Sigve Brekke, had earlier on Monday warned that such cancellations could hamper investments in India.


Sibal, however, refused to divulge any details of the discussion held between him and the Norwegian Minister.


The Supreme Court had last week ordered all 122 licenses issued under a scandal-tainted 2008 sale be revoked in four months and asked the Telecom Regulatory Authority of India to propose rules for grant of license and spectrum through an auction.


The companies, whose licenses were cancelled, included Telenor's India joint venture Uninor. (ANI)


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