HindustanTimes Thu,28 Aug 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.


* 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

more from Business

Rupee recovers 7 paise against dollar in early trade

The rupee recovered by 7 paise to trade at 60.38 against the US dollar in early trade on selling of the American currency by banks and exporters amid sustained foreign capital inflows on Thursday.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved