15 October, 2021
A number of structural and process reforms in the telecom sector, were approved by the union cabinet on 15 September 2021. One of the structural and regulatory reforms which were approved is the increase in the permitted levels of foreign investment in the sector.
Pursuant to the implementation of this change, 100% (one hundred percent) foreign direct investment has now been permitted in the telecom sector under the automatic route. Prior to this, foreign investment in the telecom sector was permitted up to 100% (one hundred percent), and government approval was required beyond 49% (forty nine percent).
The Department for Promotion of Industry and Internal Trade has released Press Note 4 of 2021, dated 6 October 2021, implementing the above relaxation in obtaining foreign investment.
Please click here and here to read the press release for reforms in the telecom sector, and Press Note No. 4 of 2021 issued by the Department for Promotion of Industry and Internal Trade.
For further information, please contact:
Souvik Ganguly, Partner, Acuity Law
