Govt Approves 100% FDI In Single Brand Retail

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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.

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In Twitter troll about 100% FDI in Single Brand Retail & PM Modi.