Press Esc to close
Friday 25 July 2014
News updated at 4:47 PM IST
Weather
Max: 28.5°C
Min : 19.8°C
In Bangalore
Sunny day

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
India's Gold medal winner Sukhen Dey and Bronze medal winner Ganesh Mali pose after...

India's Gold medal winner Sukhen Dey and Bronze medal winner Ganesh Mali pose after...

India's gold medalist Sanjita Khumukcham and compatriot silver medallist...

India's gold medalist Sanjita Khumukcham and compatriot silver medallist...

India's Sanjita Khumukcham completes a lift during the 48-kg women's weightlifting event...

India's Sanjita Khumukcham completes a lift during the 48-kg women's weightlifting event...

Sachin Tendulkar speaks at the launch of the campaign “Shuddh Paani, Swastha Bharat” to curb...

Sachin Tendulkar speaks at the launch of the campaign “Shuddh Paani, Swastha Bharat” to curb...

Kajol with her mother actress Tanuja at a seminar on breast cancer in Pune...

Kajol with her mother actress Tanuja at a seminar on breast cancer in Pune...

Hironori Kanayama, President & CEO 0f Honda Cars India Ltd. and Yoshiyuki Matsumoto...

Hironori Kanayama, President & CEO 0f Honda Cars India Ltd. and Yoshiyuki Matsumoto...

School students wades through a flooded street after heavy rains in Ahmedabad...

School students wades through a flooded street after heavy rains in Ahmedabad...

Aishwarya Rai Bachchan at a promotional event in Glasgow on Wednesday...

Aishwarya Rai Bachchan at a promotional event in Glasgow on Wednesday...

Monsoon clouds over Taj Mahal in Agra...

Monsoon clouds over Taj Mahal in Agra...

A over view of fireworks that gallored the sky at Celtic Park during the opening ceremony...

A over view of fireworks that gallored the sky at Celtic Park during the opening ceremony...

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