This Article is From Jul 16, 2013

Govt bites the FDI bullet, raises cap in 12 sectors: Highlights

New Delhi: 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

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