The government’s new policy does send out positive signals to foreign investors who will now face less risk in terms of decision-making. Countries like New Zealand, Australia, Hong Kong and, to some degree, Singapore have already allowed 100 per cent foreign ownership in telecom companies. None of these countries has seen foreign companies controlling the market. In Australia, Telstra, which is 51 per cent owned by the government, is still the number one telecom company. So, India should not fear foreigners controlling the market.
