The Union Cabinet on Wednesday approved 100 per cent foreign direct investment (FDI) in single-brand retail and construction through the automatic route. It also allowed investment up to 49 percent under approval mechanism in Air India to facilitate its divestment process.
The government allowed FPIs and FIIs to invest in power exchanges through primary market. The measures, the government said, were intended to “liberalise and simplify the FDI policy so as to provide ease of doing business in the country”.
The current policy allows 49 per cent FDI under the automatic route and up to 100 percent through the government approval route. “It has been decided to permit single-brand retail trading entity to set off it is incremental sourcing of goods from India for global operations during initial 5 years, beginning 1st April of the year of the opening of the first store against the mandatory sourcing requirement of 30 percent of purchases from India,” a government statement said.
In Twitter troll about 100% FDI in Single Brand Retail & PM Modi.
Modi Govt allows 100% FDI in single Brand Retail.
A decision that will again negatively effect small scale businesses which was once put on back foot by DeMonetization. This govt is only good for rich & doesn’t care for poor.
See now who is giving our nation to foreigners👇🏻 pic.twitter.com/OsgW9A9m8J
— RiJ🔴Y (@iamrijoy) January 10, 2018
Law of Karma : What Goes Around , Comes Back Around ☺️
PM Modi Cabinet Approves 100% FDI in single brand retail which was opposed by CM Modi pic.twitter.com/CUw3zs8Hd9
— Bhushan Patil (@bhushankpatil12) January 10, 2018
Congrats : Cabinet today approved 100% FDI in single-brand retail via automatic route.
These protestors are quiet today????
— Sir Rizwan Shaikh (@ShaikhNabi1) January 10, 2018