The authorities on Tuesday notified its determination to allow 100 per cent FDI beneath automatic route in the telecom companies sector.
In a press word, the Department for Promotion of Industry and Internal Trade (DPIIT) stated overseas funding in telecom companies shall be topic to the situation of Press Note 3 of 2020.
Accordingly, instances requiring prior authorities approval beneath the provisions of Press Note 3 will proceed to be in place.
As per the Press Note 3, an entity of a rustic, which shares a land border with India or the place the helpful proprietor of an funding into India is located in or is a citizen of any such nation, can make investments solely beneath the federal government route.
(Only the headline and movie of this report could have been reworked by the Business Standard workers; the remainder of the content material is auto-generated from a syndicated feed.)
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