DoT may allow foreign players to bid for 3G with no local partner

18 Sep 2008

The Department of Telecommunications (DoT) is considering proposals that would allow foreign telcos to participate in the auction for 3G spectrum without a local partner, Indian news source The Economic Times is reporting. The proposal would see foreign companies allowed to bid as 100% entities, and if successful given a set time frame in which to find an Indian partner for the venture, as well as gaining approval for entry into the market from the Foreign Investment Promotion Board (FIPB); existing regulations restrict foreign players from holding more than 74% equity in any firm that offers communication services in India. No date for a decision on the proposal has been announced.