The government has increased the limit for Foreign Direct Investment or FDI in 12 sectors including telecom where the limit is now 100%. Commerce Minister Anand Sharma briefed the media on the change in policies.
Here are the highlights of what the minister said:
- There are some sectors in which limit may remain the same but route has changed - from FIPB route to automatic route
- Power Exchange: Existing: 46% changed to automatic route
- Petroleum and Natural gas: 49% changed to automatic route cap remains same
- Insurance: Existing 26% through automatic route. Change to 49% automatic route.
- Asset reconstruction firms changed to 100% from 74%. 49% of it to be automatic, 49% and above is through approval route
- Basic cellular services: Existing 74% changed to 100%.
- FDI cap in credit information companies raised to 74 per cent from 49 per cent.
- FDI in multi-brand retail: Decision under process