New Delhi: The Union Cabinet will review the foreign direct investment (FDI) policy in certain sectors today. The meeting will focus on attracting more overseas funds, sources said.
The sectors, which could be considered for further relaxation of FDI, include construction and single brand retail.
According to sources, the foreign direct investment policy review in various sectors is expected to figure in today's meeting of the Union Cabinet headed by Prime Minister Narendra Modi.
Last year, there was a proposal to permit 100 per cent FDI through automatic route in single brand retail trading. Currently FDI up to 49 per cent is permitted under the automatic route but a government nod is required beyond that limit.
The relaxation of FDI policy is aimed at providing an investor friendly climate to foreign players and in turn attract more foreign direct investment to boost economic growth and create jobs. FDI during April-September this fiscal grew by 17 per cent to $25.35 billion.
The sectors, which could be considered for further relaxation of FDI, include construction and single brand retail.
According to sources, the foreign direct investment policy review in various sectors is expected to figure in today's meeting of the Union Cabinet headed by Prime Minister Narendra Modi.
The relaxation of FDI policy is aimed at providing an investor friendly climate to foreign players and in turn attract more foreign direct investment to boost economic growth and create jobs. FDI during April-September this fiscal grew by 17 per cent to $25.35 billion.
Advertisement
COMMENTS
Advertisement
PM Modi Hails Defence Giant Lockheed Martin's Make In India, Make For World Drive BJP Accuses Congress Of Inciting Violence Against PM Modi With 'Maut' And 'Hinsa' Remarks At 100 Million, PM Modi Is Most-Followed World Leader On X Today CrowdStrike Falcon Sensor: The Culprit Behind World's Biggest IT Outage Massive Worldwide Microsoft Outage: Flights, Markets, Stock Exchange Down Microsoft 'Blue Screen Of Death' Outage: Full List Of Services Hit In India Amid Microsoft Outage, Chromebook, MacBook Users Enjoyed Smooth Operation Time For Rihanna's Fenty To Take A Bow As It Partners With The Olympics Delhi Cops Crack Kidney Sale Racket Operating Across 5 States Track Latest News Live on NDTV.com and get news updates from India and around the world.