FDI limit in telecom to stay in force till 2G auction

While the 2G spectrum auction by government is likely to start from November, the Telecom Secretary R Chandrashekhar has said 100 per cent FDI in telecom is likely to stay on hold till 2G auction. Only a day ago, Deepak Parekh panel on infrastructure had recommended removal of 74 per cent cap on FDI in telecom. 

"Hundred per cent FDI in telecom will not be possible before the 2G auctions," Chandrashekhar said, according to media reports. He further said the department would look into the recommendations of Deepak Parekh panel. 

Foreign players would be able to participate in 2G auctions, even if they don’t have an Indian partner. The foreign bidders will have to form a joint venture with an Indian partner later.

Source: http://cablequest.org/news/telecom-news/item/955-fdi-limit-in-telecom-to-stay-in-force-till-2g-auction.htmlSource: http://cablequest.org/news/telecom-news/item/955-fdi-limit-in-telecom-to-stay-in-force-till-2g-auction.html