The government has announced 100 per cent foreign direct investment (FDI) in the telecom sector through the automatic route as part of its comprehensive package for the telecom sector. Till date, up to 49 per cent was allowed through the automatic route and anything thereafter had to necessarily go through the government route.
Here’s the big takeaways from the press conference by Ashwini Vaishnaw, Minister for Communications.
— Today the cabinet has decided to allow 100% FDI through automatic route in the telecom sector. All safeguards will be applicable.
— For future auctions, duration of spectrum will be 30 years instead of 20 years.
— Also if someone takes spectrum and business conditions/technology changes then after a lock-in period of 10 years it can be surrendered by paying spectrum charge.
— Also if someone takes spectrum and business conditions/technology changes then after a lock-in period of 10 years it can be surrendered by paying spectrum charge.
