Government Notifies 100% FDI In Telecom Sector Through Automatic Route

Government has issued a press note saying that foreign investment in telecom sector will be as per norms of Press Note 3 of 2020.

Three weeks after the Union Cabinet had approved 100 per cent foreign direct investment (FDI) through automatic route in the telecom sector, the government on Wednesday notified the decision to allow the move.

The department for promotion of industry and internal trade (DPIIT) has issued a press note saying that foreign investment in the telecom sector will be as per the regulations of Press Note 3 of 2020.

This document states that an entity of a nation, which shares its land borders with India or where the beneficiary owner of an investment into India is located in or is a citizen of any such country, can invest in India only through government route.

On September 15, the Union Cabinet had approved 100 per cent FDI through automatic route in the telecom sector while announcing several big bang reforms for it.