India's telecoms sector, which is grappling with an enormous corruption scandal, slowing revenue growth and waning profitability, could still be poised to attract fresh investment from the GCC.
A corruption case, which resulted in the supreme court's cancellation of 122 licences last year, prompted Etisalat and other telecommunications operators to leave the Indian market.
The licences were said to have been sold below their market value by the telecoms minister at the time, A Raja, who was jailed for what has been described as India's biggest scam, with an estimated loss of some US$40 billion (Dh146.92bn).
Indian telecoms tempt GCC investors - The National
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