Briefs: Confusion over review of India telecom FDI

January 18, 2006

A reported review of India's policy on foreigners running telecom companies was called into question Wednesday by the country's IT minister.

Dayanidhi Maran told Press Trust India that he was unaware of the review, which was revealed earlier this week by Commerce and Industry Minister Kamal Nath.

"Is there a review (?) ... I am not aware of it," Maran said Wednesday in a dispatch from PTI.

At issue is a provision in the foreign direct investment rules governing India's telecom sector, which bar expatriates from serving as CEOs or in other top jobs at Indian telecom companies. The industry wants the rules changed to accommodate ex-pats who were in office prior to the rule change last autumn.

Copyright 2006 by United Press International

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