Centre eases FDI norms in 15 major sectors
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The Government has liberalised Foreign Direct Investment, FDI norms in 15 major sectors of the economy to further boost the investment environment and to bring in more foreign investment in the country.
These sectors include mining, civil aviation, defence, broadcasting, construction, manufacturing and private sector banking.
The reforms are aimed at further easing, rationalising and simplifying the FDI process and to put more and more FDI proposals on automatic route instead of Government route.
Addressing media over the reforms in New Delhi, Finance Minister Arun Jaitley said FDI caps have been enhanced and some outdated conditionalities have been done away with or eased.
He said one of the most important reform is in the construction sector and added that 32 investment points have been impacted by the FDI reforms.
Mr Jaitley said ease of doing business has been a priority of the Government. Noting that large resources are needed for infrastructure and Make in India, the Minister said FDI lends impetus to growth.
Mr Jaitley said growth in India is being driven by public and private investment and increased FDI, for the last few months.
The Finance Minister said India has been one of the largest investment destinations in the recent past and FDI inflows in last one year increased by 40 per cent.
Mr Jaitley cited two important international agencies, World Bank and World Economic Forum, which have moved India up in rankings in the last month.
AIR correspondent reports, under the liberalised norms, the Commerce and Industry Ministry has relaxed FDI policy in single-brand retail and allowed companies to sell products through e-commerce.
Besides, 100 per cent FDI has been allowed in plantation of rubber, coffee,cardamom, palm oil tree and olive oil tree The government has also raised the approval limit of Foreign Investment Promotion Board from three thousand crore to five thousand crore rupees.
These sectors include mining, civil aviation, defence, broadcasting, construction, manufacturing and private sector banking.
The reforms are aimed at further easing, rationalising and simplifying the FDI process and to put more and more FDI proposals on automatic route instead of Government route.
Addressing media over the reforms in New Delhi, Finance Minister Arun Jaitley said FDI caps have been enhanced and some outdated conditionalities have been done away with or eased.
He said one of the most important reform is in the construction sector and added that 32 investment points have been impacted by the FDI reforms.
Mr Jaitley said ease of doing business has been a priority of the Government. Noting that large resources are needed for infrastructure and Make in India, the Minister said FDI lends impetus to growth.
Mr Jaitley said growth in India is being driven by public and private investment and increased FDI, for the last few months.
The Finance Minister said India has been one of the largest investment destinations in the recent past and FDI inflows in last one year increased by 40 per cent.
Mr Jaitley cited two important international agencies, World Bank and World Economic Forum, which have moved India up in rankings in the last month.
AIR correspondent reports, under the liberalised norms, the Commerce and Industry Ministry has relaxed FDI policy in single-brand retail and allowed companies to sell products through e-commerce.
Besides, 100 per cent FDI has been allowed in plantation of rubber, coffee,cardamom, palm oil tree and olive oil tree The government has also raised the approval limit of Foreign Investment Promotion Board from three thousand crore to five thousand crore rupees.
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