Press Esc to close
Friday 28 August 2015
News updated at 2:19 AM IST
Weather
Max: 30.1°C
Min : 19.6°C
In Bengaluru
Partially cloudy
Breaking News

Telecom Commission approves 100% FDI in telecom sector

New Delhi, Jul 2, 2013 (PTI)
Reuters Image

 Inter-ministerial body Telecom Commission today approved hiking foreign direct investment limit in the sector from 74 per cent to 100 per cent.

The Commission has approved raising FDI limit to 100 per cent, 49 per cent investment can be made through automatic route but FIPB approval is required to increase the level, a senior government official said here, adding that the decision will come in force after the Cabinet approval for the same.

The official said that Department of Telecom will send a detailed note to the Department of Industrial Policy and Promotion which forward this proposal for Cabinet approval.

At present, FDI limit in the sector is 74 per cent where 49 per cent is done through automatic route and rest requires nod from Foreign Investment Permission Board.
The idea behind increasing FDI limit in telecom sector is to help industry get fresh funds to lower financial burden.

According to a presentation by GSM industry body COAI to DoT, the debt of telecom sector stood at Rs 1,85,720 crore at end of 2011-12. This included debt of Rs 93,594 crore from domestic sources and Rs 92,126 crore from external sources.

The Commission also discussed creation of Telecom Finance Corporation (TFC) to address the sector's funding challenges and "sought a detailed project report on it".
The TFC is proposed to be set up on the lines of sectoral finance bodies such as Power Finance Corporation and Tourism Finance Corporation of India.

The proposed TFC is targeting financing Rs 38,000 crore in five-year period.


Go to Top

Photo Gallery
Bollywood actor Ranbir Kapoor with fashion designer Manish Malhotra at his show...

Bollywood actor Ranbir Kapoor with fashion designer Manish Malhotra at his show...

Students celebrate Onam festival by making floral rangoli ‘pookalam’ at a public school...

Students celebrate Onam festival by making floral rangoli ‘pookalam’ at a public school...

Devotees watch a procession during Kumbh Mela or the Pitcher Festival in Trimbakeshwar...

Devotees watch a procession during Kumbh Mela or the Pitcher Festival in Trimbakeshwar...

Activists of Left Front affiliated peasants organisation break police barricades...

Activists of Left Front affiliated peasants organisation break police barricades...

Boys stand near the charred vehicles after the incidents of violence following the Patel...

Boys stand near the charred vehicles after the incidents of violence following the Patel...

Ex-servicemen continue their indefinite hunger strike over non-implementation of OROP...

Ex-servicemen continue their indefinite hunger strike over non-implementation of OROP...

Bihar Chief Minister Nitish Kumar with his Delhi counterpart Arvind Kejriwal offering prayers...

Bihar Chief Minister Nitish Kumar with his Delhi counterpart Arvind Kejriwal offering prayers...

Leader of the Opposition and CPI(M) State Secretary Surya Kant Mishra participates in a rally...

Leader of the Opposition and CPI(M) State Secretary Surya Kant Mishra participates in a rally...

Army soldiers conduct flag march in a sensitive area of Ahmedabad on Thursday...

Army soldiers conduct flag march in a sensitive area of Ahmedabad on Thursday...

Special Operation Group (SOG) jawans take positions near the house where militants were hiding...

Special Operation Group (SOG) jawans take positions near the house where militants were hiding...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523