Cabinet eases FDI norms in single-brand retail, allows 26% in digital media

The government on Wednesday liberalised foreign direct investment (FDI) rules in four sectors including single-brand retail trade and digital media to boost investment in private sector. Union Commerce Minister Piyush Goyal said Union Cabinet has decided to allow 100 foreign investments under automatic route for coal mining and contract manufacturing. The Cabinet also brought foreign investment rules for the digital media at par with the print media. FDI would be permitted in this sector up to stakes of 26 per cent with approval from the government.