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100% FDI, other Major Telecom Reforms Approved by Cabinet

100% FDI, other Major Telecom Reforms Approved by Cabinet

Business, India, Latest News
The five process structural reform will give much-needed relief to Vodafone-Idea — confronting an existential crisis, as well as to Airtel. Good news for Vodafone Idea & Airtel: 100% FDI in telecom sector New Delhi: In a first, the Union Cabinet on Wednesday allowed 100% foreign direct investment (FDI) in the country's struggling telecom sector via the automatic route. This forms part of the five process structural reforms proposed by Ashwini Vaishnaw, Minister for Communications. Earlier, only 49% FDI was allowed through the automatic route and anything above that needed to pass through government route. “Today the cabinet has decided to allow 100 per cent FDI through automatic route in the telecom sector. All safeguards will be applicable,” said Vaishnaw, adding tha...