Government of India is carrying out a massive drive to allow as much FDI as possible to get over the economic crisis caused by increasing Current Account Deficit. Consequently there is a talk of increasing the FDI caps in some industries.The Telecom Commission , the highest decision making body of Department of Telecom(DoT), on 02 July approved 100% foreign direct investment in the telecom sector. Once ratified, the new policy will allow foreign telecom operators to buy out existing Indian partners, as they will no longer need to have a minority shareholder in the country.
“The companies plan to announce an agreement within a few months,” said the people, who asked not to be identified because the talks are private. “The iPhone maker is also hiring Pete Distad from online-video service Hulu LLC, where he was senior vice-president in charge of marketing and distribution, to help Apple executives in negotiations with media and cable companies,” two people with familiar with the matter said.