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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

Department of IT gets new name

Friday - Apr 20, 2012, 11:06am (GMT+5.5)
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New Delhi -  The department of information technology (DIT) was Thursday formally named department of electronics and information technology by Minister of Communications and Information Technology Minister Kapil Sibal to give importance to the electronics sector.

"India’s electronics sector aims to achieve a turnover of about $400 billion, involving investment of about $100 billion and employment to around 28 million, by 2020," said Sibal at the ceremony to officially rerame the department.

Recently, the cabinet secretariat amended the Government of India (Allocation of Business) Rules 1961 for change in the department's name.

Sibal said that the introduction of the word 'electronics' in the department’s name was a signal of embarking on the development of electronics in the country.

It is essential to give this recognition to the sector if the country had to realise its dual objective of accelerating the growth momentum and enabling inclusive growth and development, said Sibal.

The minister said that a new national policy on electronics was being finalised through the process of widespread consultations. Its draft was released last October.


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