India eases FDI norms in 15 sectors

Department of Economic Affairs Secretary, Shaktikanta Das, mentioned that these relaxations in the FDI policy are a part of an exercise to promote ease of doing business.

FDI in News Channels have been increased from 26% to 49% through the government route.

The Bihar result also paid put Narendra Modi’s plans to win more state elections in the next three years to gain full control of Parliament and push key reforms. “Hopefully the FDI in construction will bring down prices of houses”.

A spokesman contacted by AFP said details of the new FDI limits for specific sectors were not immediately available, although he said further details would be announced later in the day. It is one more proof of minimum government and maximum governance… Excise collections indicates manufacturing sector is moving up. The sectors include construction, agriculture, mining and banking. “Once limits are merged they have better chance to get included in MSCI for longer period”, he added.

In the broadcasting sector, 100 per cent FDI has been allowed in DTH, teleports, mobile TV and cable networks. A simpler foreign direct investment (FDI) policy, further easing of the external commercial borrowing (ECB) regime and changes in the public-private partnership (PPP) framework to attract more private investment could also be announced. “Opening up the manufacturing Sector for wholesale, retail and E-Commerce so that the Industries are motivated to Make In India and sell it to the customers here instead of importing from other countries”. It also recommended that FDI should only be allowed with prior approval of the FIPB.

Meanwhile, it has enhanced the scope of approvals which can be directly handled by FIPB, the nodal body monitoring foreign investment in the country to cover a bigger investment proposals.

India has increased the FIPB (Foreign Investment Promotion Board) monetary limit for approving Foreign Direct Investment (FDI) in 15 sectors including Defense and Civil Aviation. These proposals are subject to more scrutiny. The new limit for the clearance will be projects worth INR 5000 crores ($754 million) from the previous INR 3000 crore ($452 million).