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The government has temporarily set aside the guidelines for implementing the hike in foreign direct investment in telecom

March 15, 2006

The government has temporarily set aside the guidelines for implementing the hike in foreign direct investment (FDI) in telecom to 74 per cent till further notice. A committee of secretaries (CoS) has been constituted to come up with revised guidelines as soon as possible, though no time-frame has been set. The CoS is to review the guidelines and prepare amendments for the cabinet to take a final decision. For telecom service providers, the deadline to meet conditions such as ensuring that all key personnel are resident Indians, taking the consent of serious Indian promoters in such appointments and equity changes has been set for March 2006.

 
 

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