The cabinet has made it easier for foreign multi brand retails to invest their money in the Indian market..this change was much required as India is facing a huge slowdown in the economy, at this point of time the foreign investments could act as a saviour. The government Thursday relaxed investment norms in multi-brand retail and raised FDI caps in several sectors while making it 100 percent in telecom.
In multi-brand retail, the government diluted the mandatory 30 percent local sourcing norms and permitted states to include cities with population less than 1 million for allowing multi-brand retailing.The government has increased the FDI limit in telecom to 100 percent from 74 percent earlier, Now, this will finally allow foreign telecom players to own and fund the Indian telecom companies without having to be restricted by the Indian partners funding capacity.
It also raised the limit for FDI in assett reconstruction companies to 100% from 74% and credit information companies from 49% to 74%.This move has come just ahead the monsoon session of the parliament which will start on 5th August, BJP had already announced that they will support the ruling party in getting legislative business done.l
Read what is going on the industries which can effect your sales..
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