Permits Foreign Direct Investment in licence companies operating GMPCS services upto 49% of the total equity - FEMA - 15

PRESS NOTE NO. 15 (1998 SERIES) Government of India Ministry of Industry Department of Industrial Policy Promotion Udyog Bhawan, Global Mobile Personal Communications by Satellite (GMPCS) is an emerging technology in the field of mobile telephony. The Government have decided to permit Foreign Direct Investment in licence companies operating GMPCS services upto 49% of the total equity subject to, inter-alia, obtaining licence for GMPCS from the Telecom Authority on the recommendations of an Inter-Ministerial Licencing Committee. (ASHOK KUMAR) Joint Secretary to the Government of India New Delhi , the 15th October, 1998