New Delhi, Jan 10 : The Union Cabinet, chaired by the Prime Minister Narendra Modi, on Wednesday gave its approval to a number of amendments in the FDI Policy, aimed at liberalising and simplifying the FDI policy in several sectors so as to provide ease of doing business in the country, an official release said.
The liberalisation of the FDI policy, which includes allowing 100 per cent FDI under automatic route for Single Brand Retail Trading, 100 per cent FDI under automatic route in Construction Development, allowing Foreign airlines to invest up to 49 per cent under approval route in Air India and allowing FIIs/FPIs to invest in Power Exchanges through primary market, will lead to larger FDI inflows contributing to growth of investment, income and employment.
While extant FDI policy on SBRT allows 49 per cent FDI under automatic route, and FDI beyond 49 per cent and up to 100 per cent through government approval route, it has now been decided to permit 100 per cent FDI under automatic route for SBRT.
