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The authorities on Tuesday notified its determination to allow 100 per cent FDI underneath computerized route within the telecom companies sector.

In a press observe, the Department for Promotion of Industry and Internal Trade (DPIIT) mentioned overseas funding in telecom companies might be topic to the situation of Press Note 3 of 2020.

Accordingly, instances requiring prior authorities approval underneath the provisions of Press Note 3 will proceed to be in place.

As per the Press Note 3, an entity of a rustic, which shares a land border with India or the place the useful proprietor of an funding into India is located in or is a citizen of any such nation, can make investments solely underneath the federal government route.

(PTI)




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