The move is part of the government’s budget commitment to ease FDI norms in a host of sectors to attract investment and provide a boost to economic growth, which has slowed due to a raft of factors including sluggish private investment.
The Cabinet On Wednesday is likely to take up fresh liberalisation of foreign direct investment (FDI) rules in some key sectors such as single brand retailing and contract manufacturing,
The move is part of the government’s budget commitment to ease FDI norms in a host of sectors to attract investment and provide a boost to economic growth, which has slowed due to a raft of factors including sluggish private investment.
FM Nirmala Sitharaman in her budget speech had said that the government will examine suggestions to further open up FDI in aviation, media (animation, AVGC) and insurance sectors in consultation with all stakeholders. She had also said that 100% FDI will be permitted for instance intermediaries and local sourcing norms would be eased for FDI in single brand retail sector.
The finance minister had said that FDI inflows to India in 2018-19 remained strong at $64.4 billion, marking a 6% growth over the previous year.
