India Raises Foreign Investment Caps On Telecoms

Law360, New York (July 16, 2013, 2:50 PM EDT) -- Senior Indian lawmakers have reportedly agreed to remove caps on foreign direct investment in the country's telecommunications companies and raise caps on other industries.

Minister Anand Sharma said that the percentage limit on foreign investment in Indian telecoms had been raised to 100 percent from 74 percent, allowing full foreign ownership of the businesses, according to the Times of India on Tuesday.

The cap was reportedly raised to 49 percent through the so-called automatic route — investments made without needing the Indian federal government's pre-approval....
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