New Delhi: Citing the need for an additional investment of Rs 1.60 lakh crore for the telecom sector, Union IT and Communications Minister Dayanidhi Maran today (Oct 15, 2004) said the Government is currently working out the modalities of increasing the FDI cap in the sector to 74 per cent.

"An increase in the level of FDI cap from 49 per cent to 74 per cent for the telecom sector is under active consideration of the Government. We are currently working out the modalities," he said at the India Today-UTI MF discussion on investment boom.

He said FDI till date has been of the order of Rs 10,000 crore in the sector.