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Feb 4, 2000
100% FDI in infotech to propel growth
The commerce and industry ministry has outlined plans to permit 100% foreign direct investment (FDI) in the infotech (IT) sector.
According to a news report, the recommendation for 100% FDI has a specific focus on all kinds of infrastructure - IT, airports, telecom. The ministry is of the view that infrastructural concerns need to be addressed urgently. And with infrastructure being a capital-intensive industry, a 100% FDI will go a long way in boosting growth in this sector.
The IT industry will benefit from the 100% FDI in a big way, as infrastructural bottlenecks is one reason why Internet usage in the country still lags behind China, Korea. And so long as Internet usage is limited, e-commerce will take-off belatedly. With 100% FDI in telecom, the Internet backbone could be developed efficiently without any financial and technical constraints.
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