1. Home
  2.  |  
  3. Economy Current Affairs |  

Government raised FDI in Telecom Sector to 100 percent

Jul 17, 2013 09:59 IST

The Union Government of India on 16 July 2013 raised the FDI limit in Telecom Sector from 74 percent to 100 percent. Government also cleared that the FDI in the Insurance and Telecom sectors will be up to 49 per cent through automatic route.

The Union Government also mentioned that FDI the single brand retail would be up to 49 percent through automatic route and remaining investments would be directed through Foreign Investment Promotion Board (FIPB) route. FDI in asset reconstruction companies will be up to 49 per cent through automatic route. FDI in Credit Information Companies has been raised to 74 per cent from 49 per cent.

The Government also confirmed that the FDI in Defence Production will continue to be 26 percent. However, it will be directed through FIPB route for state of art technologies, and investment beyond that will go to Cabinet Committee on Security.

The decision was taken in a meet chaired by Prime Minister and attended by the Cabinet Ministers. The decisions were made to boost the Foreign Direct Investment in the country.

There was agreement on the following proposals

Sector

Cap

Route

Petroleum and Natural Gas and Refining

49percent

Automatic

Commodity Exchanges

49percent

Automatic

Power Exchanges

49percent

Automatic

Stock Exchanges, Depositories, Corporation

49percent

Automatic

Asset Reconstruction companies

Upto 49percent

49percent to 100percent

Automatic

FIPB

Credit Information companies

74percent

Automatic

Single Brand Retail trading

Upto 49percent

49percent to 100percent

Automatic

FIPB

Basic and Cellular Services, etc.

Upto 49percent

49percent to 100percent

Automatic

 FIPB

Courier Services

100percent

Automatic

Defence Production

 

CCS may approve proposals on case to case basis beyond 26percent which are likely to result in access to modern and state of the art technology in the country.

 

Is this article important for exams ? Yes119 People Agreed

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK