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Telecom Sector Lauds Move To Raise Cap

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Welcoming the proposal to increase the foreign direct investment (FDI) limit from 49 per cent to 74 per cent in basic and cellular services, telecom industry said the move would bring in much-needed capital. The Planning Commission has projected a capital requirement of $2.5 billion annually for the sector.

T V Ramachandran, director general, Cellular Operators Association of India, said,

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Govt again fails to find takers for 1,800-MHz spectrum

Sistema, the lone bidder for the 800-MHz band, to pay Rs 5,623.5 crore for 11 circles

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