FDI hike in telecom by May-end: Maran

By agencies   |   Friday, 20 May 2005, 19:30 IST
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NEW DELHI: The hike in foreign direct investment (FDI) to 74 percent from 49 percent will be formally announced by this month-end, Communications and IT Minister Dayanidhi Maran said today. There are ''very, very minor changes'' to be made before the government makes the notification, he informed recalling that FDI (in telecom) had gone through enough controversies. Maran said that he is in constant touch with the Department of Telecom on the issue, as well as the Finance Ministry, which is currently in the process of evaluating the exercise. The FDI in telecom has been one of the major landmarks achieved by the UPA government in the telecom sector, since it came to power a year ago. The industry is awaiting the final notification on this, he added.

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