India's telecom investment limit raised

November 7, 2005

The limit on foreign investment in India's telecom sector was raised to 74 percent Monday.

The increase in the foreign direct investment limit from 49 percent requires that the remaining 26 percent be held by resident Indians or an Indian holding company and that certain key executives be Indian citizens.

India's Department of Telecommunications is in charge of enforcing the rules and has the power to cancel licenses if necessary, Press Trust India reported.

The increase in the FDI limit was pushed by the Telecom industry as a means of pumping up the level of available capital. It was approved by the government last month.

Copyright 2005 by United Press International

Explore further: Chameleon satellite to revolutionise telecom market

Related Stories

Gangnam becomes hot spot for Korean startups

December 11, 2014

The uber-trendy Seoul neighborhood made famous by the "Gangnam Style" K-pop hit is known for status-conscious people, plastic surgery clinics and Ivy League prep schools. Now it's making a name as a bustling center for tech ...

Recommended for you

Scientists bring order, and color, to microparticles

August 3, 2015

A team of New York University scientists has developed a technique that prompts microparticles to form ordered structures in a variety of materials. The advance, which appears in the Journal of the American Chemical Society ...

Earliest evidence of reproduction in a complex organism

August 3, 2015

Researchers led by the University of Cambridge have found the earliest example of reproduction in a complex organism. Their new study has found that some organisms known as rangeomorphs, which lived 565 million years ago, ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.