Foreign investment is seen as key to boosting growth in India's slowing economy
India has further eased rules on foreign direct investment in a broad range of industries in an attempt to support the sliding currency and boost growth.
Senior cabinet ministers and Prime Minister Manmohan Singh approved the plans at a meeting late on Tuesday.
The move will allow 100% foreign ownership in the telecommunications industry, up from 74% at the moment.
The reforms still need clearance from the full cabinet.
In September last year, the government announced the opening up of India's huge retail sector to foreign supermarkets, which led to protests in the streets from small shop owners.
Tuesday's move would allow companies such as Vodafone Group, Telenor ASA and Sistema to operate in the country without the need to partner with an Indian company.
"We expect more foreign direct investment to flow in with these decisions," Commerce Minister Anand Sharma said at a press conference.
Economist say attracting investors is key to bolstering India's economy, which expanded at its slowest pace in a decade.
The Indian rupee has fallen in value to record lows in recent weeks, hitting an all-time low of 61.21 against the US dollar.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23339131#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
