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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