Wednesday, July 3, 2013

India approves 100 per cent FDI in telecom sector

The Telecom Commission in India, the decision-making body of the Department of Telecommunication (DoT), approved 100 per cent foreign direct investment (FDI) in the telecommunication sector, reported The Economic Times.
Once ratified, the policy will allow foreign companies to own 100 per cent of Indian operators, and they will no longer need to have a minority shareholder based in India. Foreign companies will be able to acquire up to 49 per cent directly, with further investments subject to approval by the Foreign Investment Promotion Board (FIPB), a senior Indian government official said. "The decision will come into force once the India' cabinet approves it."
At present, FDI in the sector is limited to 74 per cent of an Indian operator.

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