E-Paper
Highlights on FDI
Opening the doors to shore upforeign investments, the government today 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.
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
