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RBI eases norms for foreign entities doing business in telecom sector

March 29, 2019
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According to the Reserve Bank of India (RBI), foreign entities doing business in the telecom and defence sector in India would henceforth not need a separate approval from the RBI for opening a branch or liaison offices , provided they have a clearance from the concerned ministry.

As per the new norms, foreign entities operating in the telecom, defence private security and information and broadcasting sector need no prior approval for opening of a branch office / liaison office/ project office or any other place of business in India if government approval/ licence/permission by the concerned ministry/regulator has already been granted.

The move has been undertaken to improve the ease of doing business in these sectors. Further, it will make the office opening process under the Foreign Exchange Management Act (FEMA) simpler.

Earlier, a prior approval from the RBI was mandatory.

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