Union Cabinet okays cent percent FDI; in single brand retail; heres more
In yet another major policy decision, the union cabinet on Wednesday approved cent percent Foreign Direct Investment in single brand retail through automatic route.
The step is being seen as attempt to further improve the ease of doing business in the country.
This essentially means that government approval is no longer required for FDI in single brand retail trading.
It need be recalled that earlier, FDI through automatic route in single brand retail was capped at 49 per cent and that a foreign direct investment beyond the ceiling needed government approval.
Besides retail, the government also allowed foreign airlines to invest up to 49 per cent under approval route in Air India. >