India approves spectrum trading norms for telecom firms

India on Wednesday approved the much-awaited spectrum trading norms for telecom companies, so that this scarce resource can be put to optimal use, Communications and IT Minsiter Ravi Shankar Prasad said here.

"We have approved the spectrum trading norms today. Now the telecom companies can trade spectrum among themselves. For this they need not take any government permission," he said in a briefing after the Cabinet gave a nod to the proposal.

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"The telecom companies only need to inform the government 45 days in advance before trading and they have to give an undertaking," the minister added. Prasad said trading will also resolve the problem of fragmented spectrum holding in India.

Source IANS