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COPYRIGHT 2006 American Lawyer Media L.P.
INDIA
Titus & Co Advocates
New Delhi
To catalyse foreign investments in the Indian telecom sector, the Government of India notified Press Note No.5 of 2005 ("Press Note") on November 3, 2005 increasing the Foreign Direct Investment (FDI) limit in telecom services from 49% to 74%. The 74% ceiling applies to FDI made directly in a licensed telecom company as well as its promoter or holding company. The remaining 26% equity must be held by resident Indian citizens or companies who must...
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