Telecom shares gain after India relaxes FDI cap rules
India approved the relaxation of FDI in a bid to lure capital inflows and rev up growth.
Written by Reuters
Mumbai |
1 min read
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Reliance Jio Infocomm will commercially launch 4G services by December.
Shares in India’s mobile operators such as Reliance Communications Ltd (RLCM.NS) gained today,a day after India approved raising the foreign investment limit in the sector to 100 percent from the current 74 percent.
India approved the relaxation of foreign direct investment (FDI) rules on Tuesday in a broad swathe of industries in a bid to lure capital inflows,prop up a sliding currency and rev up growth.
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