DoT panel opening up telecom sector to FDI

DoT panel has suggested completely opening up the telecom sector to FDI, a move which is expected to bring in fresh funds into the industryA DoT panel has suggested completely opening up the telecom sector to foreign direct investment, a move which is expected to bring in fresh funds into the industry that is facing a financial crisis.

The FDI cap is currently fixed at 74 per cent. “This (hiking it to 100 per cent) has been under consideration. DoT has started working on it.

The proposal needs to be first cleared by Telecom Commission but we are not sure if it can be placed before the commission in the meeting scheduled for July 2.

A separate finance company for the telecom sector is likely to help companies mobilise and channelise funds as operators have been facing challenge to raise fresh loans from domestic banks.

(Agency)

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