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Major impetus to job creation and infrastructure Radical changes in FDI policy regime; Most sectors on automatic route for FDI

News and Press Release - Dated:- 20-6-2016 - Press Information Bureau Government of India Prime Minister's Office 20-June-2016 14:07 IST The Union Government has radically liberalized the FDI regime today, with the objective of providing major impetus to employment and job creation in India. The decision was taken at a high-level meeting chaired by Prime Minister Narendra Modi today. This is the second major reform after the last radical changes announced in November 2015. Now most of the se .....

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iation, Credit Information Companies, Satellites- establishment/operation and Asset Reconstruction Companies. Measures undertaken by the Government have resulted in increased FDI inflows at US$ 55.46 billion in financial year 2015-16, as against US$ 36.04 billion during the financial year 2013-14. This is the highest ever FDI inflow for a particular financial year. However, it is felt that the country has potential to attract far more foreign investment which can be achieved by further liberaliz .....

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ia an attractive destination for foreign investors. Details of these changes are given in the following paragraphs: 1. Radical Changes for promoting Food Products manufactured/produced in India It has now been decided to permit 100% FDI under government approval route for trading, including through e-commerce, in respect of food products manufactured or produced in India. 2. Foreign Investment in Defence Sector up to 100% Present FDI regime permits 49% FDI participation in the equity of a compan .....

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dition of access to state-of-art technology in the country has been done away with. ii. FDI limit for defence sector has also been made applicable to Manufacturing of Small Arms and Ammunitions covered under Arms Act 1959. 3. Review of Entry Routes in Broadcasting Carriage Services FDI policy on Broadcasting carriage services has also been amended. New sectoral caps and entry routes are as under: Sector/Activity New Cap and Route 5.2.7.1.1 (1)Teleports(setting up of up-linking HUBs/Teleports); ( .....

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ot seeking license/permission from sectoral Ministry, resulting in change in the ownership pattern or transfer of stake by existing investor to new foreign investor, will require FIPB approval 4. Pharmaceutical The extant FDI policy on pharmaceutical sector provides for 100% FDI under automatic route in greenfield pharma and FDI up to 100% under government approval in brownfield pharma. With the objective of promoting the development of this sector, it has been decided to permit up to 74% FDI un .....

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s, it has been decided to permit 100% FDI under automatic route in Brownfield Airport projects. (iii) As per the present FDI policy, foreign investment up to 49% is allowed under automatic route in Scheduled Air Transport Service/ Domestic Scheduled Passenger Airline and regional Air Transport Service. It has now been decided to raise this limit to 100%, with FDI up to 49% permitted under automatic route and FDI beyond 49% through Government approval. For NRIs, 100% FDI will continue to be allow .....

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