Telcos allowed more time to adjust FDI limit

New Delhi, Oct 04 (UNI) The Government today said it has decided to further extend the time period for telecom service providers to comply with the conditions set out in the Press Note 5, notifying the enhancement of the foreign direct investment limits in the telecom sector from 49 per cent to 74 per cent.

An initial correction time of four months was allowed to the telecom service provider companies. The time period was extended from time to time and the last extension was allowed up to October 2, 2006, an official release from the Department of Policy and Promotion said here.

UNI PC RA DS1612