October 7, 2021 4:14:02 am
The government on Wednesday allowed 100 per cent foreign direct investment in the telecom sector through automatic route to promote ease of doing business in the industry.
Earlier, 100 per cent of FDI was allowed, of which 49 per cent of investment was permitted through automatic route.
According to the DPIIT’s press note, 100 per cent FDI is permitted across all kinds of telecom services and infrastructure providers.
The move will provide relief for Vodafone Idea, as it has been looking to raise funds from overseas to support its business.
The Department of Telecommunications (DoT) slashed performance and financial bank guarantee requirements of telecom operators by 80 per cent. The amendment has been made in both old telecom licences in the UASL (Unified Access Services licences) category and new licences that were started in 2012- Unified Licence (UL) category.
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