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.)
Business Standard has all the time strived onerous to offer up-to-date info and commentary on developments which are of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on the best way to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these troublesome occasions arising out of Covid-19, we proceed to stay dedicated to maintaining you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nevertheless, have a request.
As we battle the financial impression of the pandemic, we’d like your help much more, in order that we will proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from a lot of you, who’ve subscribed to our on-line content material. More subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We consider in free, truthful and credible journalism. Your help by extra subscriptions can assist us practise the journalism to which we’re dedicated.
Support high quality journalism and subscribe to Business Standard.