DoT allows 100% FDI under automatic route, but with boundary riders

Mumbai: The telecom department on Wednesday amended the unified license agreement to allow 100% foreign direct investment (FDI) under the automatic route. This was part of the telecom relief package and comes at a time when Vodafone Idea (Vi) is looking to raise funds from global investors.

“FDI up to 100% under automatic route subject to observance of licensing and security conditions by the licensee as well as investors as notified by the DoT from time to time,” said the Department of Telecommunications (DoT) in its notification issued on Wednesday.