Press Esc to close
Thursday 21 August 2014
News updated at 3:35 PM IST
Weather
Max: 30.8°C
Min : 20.7°C
In Bangalore
Generally cloudy

Cabinet clears 100 percent FDI in telecom

New Delhi, Aug 1, 2013, (IANS):
File photo.

The cabinet Thursday cleared 100 percent foreign direct investment (FDI) in the telecom sector, Commerce and Industry Minister Anand Sharma said here.

"There has been detailed discussion and now it has been raised to 100 percent,” he said. The decision was taken at a meeting of the Cabinet Committee on Economic Affairs.

The decision in this regard was reached July 16 after Prime Minister Manmohan Singh held an inter-ministerial meeting with senior cabinet ministers, including Finance Minister P.

Chidambaram, Defence Minister A.K. Antony, Commerce and Industry Minister Anand Sharma and Telecom Minister Kapil Sibal at his official residence here.


Earlier, out of the 74 percent limit, upto 49 percent was done by automatic route and rest through the Foreign Investment Promotion Board's (FIPB) approval. Now out of 100 percent FDI, 49 percent will be done through automatic route and the rest will be done through FIPB approval route, Sharma said.

Raising the FDI limit to 100 percent will help in bringing fresh funds into the sector.
Earlier on July 2, the Telecom Commission approved 100 percent foreign direct investment (FDI) in the telecom sector.

Go to Top

Photo Gallery
Boy plays with a dog near idols of elephant-headed Hindu god Ganesha, displayed for sale by a...

Boy plays with a dog near idols of elephant-headed Hindu god Ganesha, displayed for sale by a...

Pakistan football team players after defeating India on their second match at  KSFA Stadium ...

Pakistan football team players after defeating India on their second match at KSFA Stadium ...

Dejected Indian football team players after their loss during the 2nd International U-23 Friendly...

Dejected Indian football team players after their loss during the 2nd International U-23 Friendly...

Director Rajkumar Hirani right, and producer Vidhu Vinod Chopra, left, enjoy a lighter moment as...

Director Rajkumar Hirani right, and producer Vidhu Vinod Chopra, left, enjoy a lighter moment as...

Former Prime Minister Manmohan Singh with Congress President Sonia Gandhi at the Rajiv Gandhi...

Former Prime Minister Manmohan Singh with Congress President Sonia Gandhi at the Rajiv Gandhi...

Actor Rani Mukherjee with Mumbai Police Commissioner Rakesh Maria during the launch of Women Beat...

Actor Rani Mukherjee with Mumbai Police Commissioner Rakesh Maria during the launch of Women Beat...

President Pranab Mukherjee and Congress President Sonia Gandhi look on as Congress party Vice ...

President Pranab Mukherjee and Congress President Sonia Gandhi look on as Congress party Vice ...

Bollywod actress Mandira Bedi during the inauguration of a painting exhibition in Mumbai on ...

Bollywod actress Mandira Bedi during the inauguration of a painting exhibition in Mumbai on ...

A man gets his shave done by a roadside barber as another reads a newspaper while waiting for...

A man gets his shave done by a roadside barber as another reads a newspaper while waiting for...

A model at a promotional event of Rado watches in Lucknow  ...

A model at a promotional event of Rado watches in Lucknow ...

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