Press Esc to close
Sunday 14 February 2016
News updated at 9:02 AM IST
Weather
Max: 32°C
Min : 17°C
In Bengaluru
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
Bollywood actor Amitabh Bachchan during the flagship ceremony of Land Rover’s delivery...

Bollywood actor Amitabh Bachchan during the flagship ceremony of Land Rover’s delivery...

Actress Priyanka Upendra poses to photographers in ‘Valentines Day’ flower decoration at Jayamahal..

Actress Priyanka Upendra poses to photographers in ‘Valentines Day’ flower decoration at Jayamahal..

Students take part in a Kalash procession during centenary year celebrations of BHU...

Students take part in a Kalash procession during centenary year celebrations of BHU...

Buddhist monks playing their traditional musical instruments to welcome high monks...

Buddhist monks playing their traditional musical instruments to welcome high monks...

A Performer walks past another at the exhibition centre of the 'Make In India' week in Mumbai...

A Performer walks past another at the exhibition centre of the 'Make In India' week in Mumbai...

Players of India and Pakistan in action during Women's Kabaddi match at the 12th...

Players of India and Pakistan in action during Women's Kabaddi match at the 12th...

Shooters taking part in the final of 50M Women's Individual Rifle event ...

Shooters taking part in the final of 50M Women's Individual Rifle event ...

Pallavi Retiwala and Pooja Chaurushia of India compete in women's Triathlon race...

Pallavi Retiwala and Pooja Chaurushia of India compete in women's Triathlon race...

Gold Medal winner Rani Sarnobat flanked by Silver Medal winner Annuraj Singh (R)...

Gold Medal winner Rani Sarnobat flanked by Silver Medal winner Annuraj Singh (R)...

Gold Medal winner Omkar Singh of India, flanked by Silver Medal winner Kameel Ullah (left)...

Gold Medal winner Omkar Singh of India, flanked by Silver Medal winner Kameel Ullah (left)...

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