Fresh trouble seems to be brewing between the defence ministry and the Department of Telecommunications over spectrum and this could put a question mark on the launch of third generation telephony services in the country by March next year.
Eleven telcos, whose licences will expire between 2014 and 2021, will have to pay this 13-figure sum if the government accepts the telecom regulator's proposal of pricing second generation radio airwaves on the basis of prices determined at the just-concluded auction of third generation spectrum.
The Telecom Regulatory Authority of India (Trai) chairman J S Sarma said his recommendation to tweak the existing norms for mergers and acquisitions aims to prevent the union of two big companies or a big and a medium-sized operator, but it provides enough scope for mergers between others.
Will come out with a response on the issue shortly.
Maruti Suzuki has asked its 200-odd vendors to cut their component costs by three per cent across the board in this financial year.
The government is considering a proposal to allow 100 per cent foreign direct investment into the country's defence sector, despite stiff opposition from the defence ministry that has raised security concerns.
According to Indian officials, both the sides have had "fruitful consultations" regarding elimination of tariffs on 90-95 per cent of goods, but the EU's insistence on including non-trade issues, such as child labour, labour laws and climate change, in the trade pact are coming in the way of concluding an agreement.
The central bank may classify them as foreign-owned Indian banks.
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