Abstract
ABSTRACT This study evaluates how foreign direct investment (FDI) impact the Indian telecom manufacturing sector and the exports of telecom products between January 2012 and February 2020. It establishes a long-term non-linear relationship among FDI, exports, and industrial production index that exhibits regime shifts, time-varying, and wavelet coherence under exchange rate volatility. The study revealed that telecom sectoral FDI majorly strengthens the service delivery capacity rather than enhancing the production of telecom products. The policy and regulatory initiatives, mainly focused on ‘import substitution’, may not automatically lead to strengthening of domestic manufacturing and increased participation in the global value chain.
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