FDI cap in telecom hiked to 74 percent

Thursday, 22 March 2007, 05:00 Hrs
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New Delhi: The cabinet decided to enhance the limit for foreign direct investment (FDI) in the telecom sector from the existing 49 percent to 74 percent.

A decision to this effect was taken by the cabinet at a meeting chaired by Prime Minister Manmohan Singh, Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters.

The government specified the areas in which it will grant permission for enhanced FDI and it will be subject to certain regulations.

For instance, it will be allowed in remote access to networks in India only from approved locations, remote access only to equipment suppliers, manufacturers and affiliates and remote access not to be used for monitoring contents.

Mirror image of remote access information is to be made available online in India to security agencies and complete audit trail of remote access activities maintained for six months.

These changes will help in implementing the FDI policy announced Nov 3, 2005, said the minister.
Source: IANS
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