ANNOUNCEMENT 02 Jul 2013In July 2013, the government of India announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
Department of Industrial Policy and Promotion (Ministry of Commerce and Industry), Press Note no. 6 of 2013: http://dipp.nic.in/English/acts_rules/Press_Notes/pn6_2013.pdf
Times of India, July 3, 2013, 'Telecom panel backs 100% FDI despite MHA's fears': http://timesofindia.indiatimes.com/business/india-business/Telecom-panel-backs-100-FDI-despite-MHAs-fears/articleshow/20886806.cms
On July 2, 2013, India's Inter-Ministerial Telecom Commission approved a regulation allowing 100 per cent Foreign Direct Investment (FDI) in the telecommunications sector. Previously, a FDI cap of 74 per cent was in place, with 49 per cent through automatic licensing and the remainder being subject to approval from the Foreign Investment Promotion Board (FIPB). This licensing/approval regime is not to be changed, so investment above 49 per cent will remain subject to FIPB approval under the new rules.
The regulation has yet to be approved by the cabinet before entering into effect.