New Delhi, July 16 The government Tuesday cleared the much-awaited 100 percent foreign direct investment (FDI) in telecom sector, Union commerce minister Anand Sharma said here.
The decision was reached after Prime Minister Manmohan Singh held a 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 Foreign Investment Promotion Board’s (FIPB) approval. The minister said now out of 100 percent FDI, 49 percent will be done through automatic route and the rest will be done through FIPB approval route.
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.
- July 16, 2013 India liberalises FDI norms for insurance, retail, telecom
- July 16, 2013 CCS to decide FDI proposals beyond 26 percent in defence
- July 17, 2013 PM discusses FDI with cabinet colleagues
- July 28, 2014 Novel FCI, FDI In Insurance: ENROUTE TOWARDS NEW ORDER…
- February 18, 2014 Interim budget is well-balanced: PM
- January 28, 2014 India eyes FDI in railways
- January 14, 2014 FICCI disappointed over bar on FDI in retail
- January 4, 2014 Early decision on FDI in railways, construction: Sharma
- November 6, 2013 Assure investors on stable policy, Sharma urges envoys
- August 23, 2013 PM okays amendment to food bill as cabinet divided
- August 3, 2013 PM dedicates BHEL’s Power Plant Piping Unit & Unit?II High Pressure Boiler Plant to the Nation
- August 3, 2013 The CMD of BHEL, B. Prasada Rao presenting a memento to the Prime Minister, Dr. Manmohan Singh, at the dedication ceremony of the BHEL’s Power Plant Piping Unit
- August 1, 2013 Economy will bounce back: PM
- July 16, 2013 India opens gates a lot wider for foreign investment
- July 15, 2013 The Minister for Commerce & Industry, Anand Sharma, the Finance Minister, P. Chidambaram, the Deputy Chairman, Planning Commission, Montek Singh Ahluwalia, during the US-India CEO Forum Meeting
- July 13, 2013 US-India CEOs asked to focus on FDI, defence trade
- July 11, 2013 Indian economic czars in US to woo investors
- July 11, 2013 Telecom mergers and acquisitions guidelines by July-end: Sibal
- June 22, 2013 Power bills to go up as firms allowed to pass on coal-cost
- June 22, 2013 Cabinet okays 5 percent stake sale in Neyveli Lignite
- May 25, 2013 The PM, Dr. Manmohan Singh releasing a commemorative postage stamp, at the Silver Jubilee Celebrations of the Securities and Exchange Board of India
- May 23, 2013 SEBI, India’s capital market regulator, is 25
- May 9, 2013 ESCAP On India: GROWTH APPROACH UNTENABLE…
- April 10, 2013 Manmohan Singh leaves for Germany with five cabinet ministers
- April 4, 2013 PM promises more reforms, steps to spur growth, investment
- March 9, 2013 India’s first all-women post office comes up in Delhi
- March 1, 2013 FDI inflows to India slump by 43 percent
- February 28, 2013 Finance minister has done commendable job: PM
- November 26, 2012 FDI in retail disrupts both houses
- October 11, 2012 FDI In Insurance, Pension: NO GAIN FOR AAM AADMI…