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HindustanTimes Thu,24 Jul 2014

Highlights on FDI

None   July 17, 2013
First Published: 01:05 IST(17/7/2013) | Last Updated: 01:07 IST(17/7/2013)

Opening the doors to shore upforeign investments, the government on Tuesday liberalised FDI limits in a dozen sectors, including allowing 100 per cent in telecom and higher limits in 'state-of-the-art' defence manufacturing, to boost the sagging economy.

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* 26% FDI cap in defence production to stay; FDI beyond 26% in state-of-the-art technology will be approved by Cabinet Committee on Security (CCS): Anand Sharma

* FDI in gas refineries, commodity exchanges, power trading and stock exchanges to be through Foreign Investment Promotion Board (FIPB) route, announced commerce minister Anand Sharma at a press conference after the cabinet meeting.

* By consensus some decisions have been taken on FDI caps in the meet called by PM: Anand Sharma

* Petroleum and Natural Gas the sectoral cap remains unchanged at 49%: Anand Sharma

* Power exchanges route changed to automatic; cap remains same as 49%: Anand Sharma

* In insurance sector FDI cap will be 49% through automatic route. It means without approval of FIPB: Anand Sharma

* FDI cap for petroleum refining is at 49%, allowed via automatic route: Anand Sharma

* Asset reconstruction companies: FDI cap upto 49% through automatic route. From 49% to 100 % it will be through FIPB route: Anand Sharma

* In tea sector, condition of divestment to Indian partners deleted: Anand Sharma

* In single brand retail, FDI upto 49% it will be under automatic route; beyond 49% it will be through FIPB route: Anand Sharma

* No change of route in civil aviation sector. Some decisions on this may be taken later: Anand Sharma

* All the FDI decisions have been taken through consensus: Anand Sharma

* The decisions stand taken; they will be placed before coming Cabinet: Anand Sharma

* No view taken on FDI in media: Anand Sharma

* FDI cap in credit information companies raised to 74% from 49%: Anand Sharma


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