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100 percent FDI cleared for single brand!

13 January 2018

Under the circumstances, it would be prudent to honour the report of the parliamentary committee, which has recently recommended against the disinvestment in Air India and has recommended for holding back this decision for the time being, he added.

The amendments are meant to liberalise and simplify the FDI policy so as to provide ease of doing business.

Single-brand retail has been open to 100% FDI since 2011; the main draw for investors will be multi-brand retail-this has been pending due to a fear of retaliation from kirana store owners.

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In construction sector, the Government clarified that real-estate broking service eligible for 100% FDI under automatic route. As a major move that will ease foreign investments, the government has approved 100 percent FDI through automatic routing, which will be heavily useful.

It permitted foreign airlines to invest up to 49 per cent under the approval route in the debt-ridden, loss making national carrier, said an official statement issued after the Cabinet meeting chaired by Prime Minister Narendra Modi. "In turn, it will lead to larger FDI inflows contributing to growth of investment, income and employment", said an official statement. It has said that allowing 49% foreign investment is not the best of the solutions for ending the troubles with the National Carrier.

This is the second time that the FDI policy has been changed by the current government.

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WB projects 7.3% growth India's growth rate in 2018 is projected to hit 7.3 per cent and 7.5 per cent in the next two years, according to the World Bank, which said the country has "enormous growth potential" compared to other emerging economies with the implementation of comprehensive reforms.

However, FII/FPI (foreign portfolio investors) purchases were restricted to secondary market only.

However, he said, it was expected that the government's liberalisation of FDI norms for multi-brand retail would enable large global retail chains to invest in the country and bring latest technologies and retail formats into India.

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This is unedited, unformatted feed from the Press Trust of India wire.

100 percent FDI cleared for single brand!