Cabinet relaxes FDI norms, approves 100% FDI in single-brand retail & construction

Cabinet relaxes FDI norms, approves 100% FDI in single-brand retail & construction
Representational Image (Courtesy: retailnews.asia)

The Union Cabinet on Wednesday approved a number of amendments in the Foreign Direct Investment (FDI) Policy, liberalising FDI in key sectors, approving 100 percent foreign investment in single-brand retail trading (SBRT) & construction development, and opening up Air India for FDI up to 49 percent.

 

The decisions, taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi, were intended to liberalize and simplify the FDI policy to provide ease of doing business.

 

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