India Cabinet OKs Raising Foreign Invest Cap In Telcos

NEW DELHI -(Dow Jones)- India's Cabinet Wednesday approved a proposal to raise the foreign direct investment limit in the telecommunications sector to 74% from 49%, Finance Minister P. Chidambaram said.

Chidambaram proposed raising the limit in July but the decision was delayed due to opposition from the government's left-wing allies.

The details are likely to be announced at a cabinet briefing at 0900 GMT.

- By P.R. Venkat, Dow Jones Newswires; 91-11-23074020; ve.ramakrishnan@dowjjones.com

-Edited by Mary de Wet

(END) Dow Jones Newswires "

Posted to the site on 2nd February 2005