FDI in telecom raised to 74%

In a move that could bolster investment in the fast growing telecom sector the government today decided to raise Foreign Direct Investment up to 74 per cent, up from prevailing ceiling of 49 per cent.

Along with raising the FDI limit, the Union Cabinet also approved revised conditions for such direct investment, Information and Broadcasting Minister P R Dasmunsi said after a meeting of the Cabinet, chaired by Prime Minister Manmohan Singh.