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India approves 100% FDI in telecom sector
2013-07-03 15:29:00| Telecompaper Headlines
(Telecompaper) The Telecom Commission in India, the decision-making body of the Department of Telecommunication (DoT), approved 100 percent foreign direct investment (FDI) in the telecommunication sector, reports The Economic Times. Once ratified, the policy will allow foreign companies to own 100 percent 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 percent directly, with further investments subject to approval by the Foreign Investment Promotion Board (FIPB), a senior government official said. The decision will come into force once the Cabinet approves it. At present, FDI in the sector is limited to 74 percent of an Indian operator.
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Category:Telecommunications