DPIIT notifies 100 pc FDI in telecom

By: |
October 06, 2021 5:21 PM

Cases requiring prior government approval under the provisions of Press Note 3 will continue to be in place.

DPIIT, telecom services sector, Department for Promotion of Industry and Internal Trade,Cases requiring prior government approval under the provisions of Press Note 3 will continue to be in place.

The government on Tuesday notified its decision to permit 100 per cent FDI under automatic route in the telecom services sector.

In a press note, the Department for Promotion of Industry and Internal Trade (DPIIT) said foreign investment in telecom services will be subject to the condition of Press Note 3 of 2020.

Accordingly, cases requiring prior government approval under the provisions of Press Note 3 will continue to be in place.

As per the Press Note 3, an entity of a country, which shares a land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the government route.

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