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February 04, 2005

Foreign investment limit in telecom services hiked

From The Hindu:

The Union Cabinet on Wednesday approved the long-deliberated proposal to hike the ceiling of composite foreign direct investment (FDI) in the telecom sector to 74 per cent from the existing 49 per cent. This is subject to certain conditions and clauses inserted by the Home Ministry to safeguard the nation's interest by way of ensuring the "Indianness" of the operating companies.

Arun Natarajan is the Editor of TSJ Media, which tracks venture capital activity in India and Indian-founded companies worldwide. View sample issues of TSJ Media's Venture Intelligence India newsletters and reports.