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Our Bureau

New Delhi, March 7

The Government today announced changes in the guidelines governing increased foreign direct investment in the telecom sector from 49 per cent to 74 per cent, thus giving service providers more time to comply with the new conditions. "The government has decided to extend the time limit for the telecom service provider companies to comply with the conditions by four months from March 3 till July 2," an official statement said here.

Several telecom operators had urged the government to extend the deadline. Some operators had said that the FDI guidelines were unfairly imposed even on those companies that did not have 74 per cent FDI. One of the issues contested was the appointment of foreigners in key positions such as Chief Technical Officer and allowing remote access for network location.

More Stories on : Telecommunications | Foreign Direct Investment

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