Telecom Sector Lauds Move To Raise Cap

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,