News: Union govt allows 100% FDI in telecom sector

C-Suite

Union govt allows 100% FDI in telecom sector

Amid concerns over a weakening rupee, dwindling capital inflows and a widening current account deficit, the country on Tuesday moved a step closer to overhauling its foreign direct investment (FDI) policy as it lifted caps for the telecom sector and asset reconstruction firms, besides tweaking norms for 13 sectors, Business Standard reported.

Amid concerns over a weakening rupee, dwindling capital inflows and a widening current account deficit, the country on Tuesday moved a step closer to overhauling its foreign direct investment (FDI) policy as it lifted caps for the telecom sector and asset reconstruction firms, besides tweaking norms for 13 sectors, Business Standard reported.

According to the same report, the FDI limit for credit information firms was raised from 49 per cent to 74 per cent — all of it may come through the automatic route, against the requirement for clearance from the Foreign Investment Promotion Board (FIPB) at present.

Read the complete report here
 

Read full story

Topics: C-Suite, #Updates, #National

Did you find this story helpful?

Author

QUICK POLL

What is your top focus area for reinventing work in the hybrid world of work?

Can we take a more holistic view of how we reward people?

READ our latest issue for a broadened perspective.