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India’s telecoms scam has shed light on policy manipulation and backroom deals at the highest levels of government

The scandal in the allocation of 2G spectrum bandwidth to Indian companies revealed by the Central Bureau of Investigation (CBI) and Comptroller and Auditor General (CAG) of India has raised questions about government policy, India’s regulatory regime, and the integrity of large corporations, ministers, bureaucrats and lobbyists. It also puts at risk future foreign investment in the country.

The inquiry into the scam was launched late last year after former telecom minister A Raja was charged with unfairly allocating 2G spectrum to telecom companies in 2008. Reports from the CAG and the CBI allege that the ministry, under Raja, allotted spectrum licences at extremely low rates, defying market logic and blatantly flouting government directives and rules.

Various estimates suggest that undervalued allocation of 2G spectrum could cost the public exchequer between US$20 billion and US$40 billion.

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Sunil Seth is a senior partner at Seth Dua & Associates in New Delhi. He can be contacted by email at sunil.seth@sethdua.com; and by telephone on +91 11 416 44700 and +91 98 100 55100.

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