Business News

• India still 2^nd best FDI spot: Nomura
• Idea, Spice may lose licences in 5 circles

India still 2^nd best FDI spot: Nomura

Nomura India has said despite the recent massive slump in foreign direct investment (FDI) inflows, India remains the hottest investment destination in the world after China and inflows will return to the precise peak levels by early 2012. FDI inflows plunged 25% in April January period to $17 billion (`74,800 crore) year on year. The figure was more alarming in January when it nosedived by 48% to $1.04 billion.

Idea, Spice may lose licences in 5 circles

The telecom ministry is likely to cancel the licences of leading mobile operator Idea Cellular Ltd and Spice in five states for failing to roll out services within the stipulated time. The Telecom Regulatory Authority of India (Trai) has recommended to the department of telecommunications (DoT) to cancel the licences of Idea in the Karnataka and Punjab circles and that of Spice in Maharashtra, Haryana and Andhra Pradesh.