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India Eases Foreign Investment Rules To Push Growth

India Eases Foreign Investment Rules To Push Growth”

Foreign carriers can buy up to 49 per cent in the loss-making national airline, the government said.

In the case of medical devices, the government has permitted a wide range of items that can attract up to 100 per cent FDI via the automatic route.

Expressing strong resentment on the government's decisions of easing FDI investments, Swadeshi Jagran Manch (SJM) co-convener Ashwani Mahajan said, the organisation, "firmly believes that easing the norms for FDI in SBRT would go against the best interest of the country".

India has secured robust foreign investment inflows in recent years, but its economic growth has slowed recently. Fast Retailing did not offer any immediate comment to the change in policy. It has now been made a decision to do away with this provision, thereby allowing FIIs/FPIs to invest in power exchanges through primary market as well, the release said.

However, FII/FPI (foreign portfolio investors) purchases were restricted to secondary market only.

A cabinet meeting chaired by Indian Prime Minister Narendra Modi on Wednesday paved the way for 100-percent foreign investment in single-brand retail and construction development.

The country received more than $60 billion in FDI in the past financial year running from April 2016 to March 2017, representing an all-time high.

Regarding the liberalisation in the construction development segment, the government has chose to clarify that real estate broking service does not amount to real estate business and is therefore, eligible for 100 per cent FDI under automatic route.

"Global brands across different categories, from apparel to electronics to accessories will be aided through this, providing further options to Indian consumers and improving India?s ranking in ease of doing business", Rajat Wahi, Partner, Deloitte India said.

The National Democratic Alliance (NDA) has amended foreign direct investment (FDI) rules for the fourth time in three years to liberalize the investment regime for single-brand retail, real estate brokerage, aviation and power exchanges. It remains an unfinished agenda for the government.

In construction sector, the Government clarified that real-estate broking service eligible for 100% FDI under automatic route.



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