Cabinet eases FDI rules for single brand retail; gives nod to 100% foreign investment in contract manufacturing, coal mining
Briefing reporters on the decisions taken by the Union Cabinet headed by Prime Minister Narendra Modi, Commerce and Industry Minister Piyush Goyal said 100 percent foreign direct investment (FDI) under automatic route in coal mining and associated infrastructure has been approved
-
To boost domestic manufacturing, 100 percent FDI in contract manufacturing under automatic route has been allowed, Commerce and Industry Minister Piyush Goyal said
-
Also, 26 percent FDI has been allowed in digital media, he said
-
On FDI in single-brand retailing, the Cabinet has expanded the definition of mandatory 30 percent domestic sourcing norm
New Delhi: The government on Wednesday relaxed FDI rule for foreign single-brand retailers and also permitted foreign investment in contract manufacturing and coal mining.
Briefing reporters on the decisions taken by the Union Cabinet headed by Prime Minister Narendra Modi, Commerce and Industry Minister Piyush Goyal said 100 percent foreign direct investment (FDI) under automatic route in coal mining and associated infrastructure has been approved.
To boost domestic manufacturing, 100 percent FDI in contract manufacturing under automatic route has been allowed, he said, adding that 26 percent FDI has been allowed in digital media.
Related Articles
On FDI in single-brand retailing, the Cabinet has expanded the definition of mandatory 30 percent domestic sourcing norm. It also allowed single brand retailers to start online sales, waiving the previous condition of setting up a mandatory brick-and-mortar store, he said.
#CabinetDecisions | @PiyushGoyal says Want to increase India’s presence in the global value chain
#FDIDecisions pic.twitter.com/qXCDBodCDb
— CNBC-TV18 (@CNBCTV18Live) August 28, 2019
also read
For rally in Ajmer, PM Modi will offer prayer at Brahma temple
Crores of BJP workers, over 300 MPs and more than 1400 MLAs will vigorously participate in this program to take the public welfare policies and achievements of the Modi government to the public. The achievements of the BJP government will reach everyone.
'Matter of happiness that a new Parliament was constructed in 2.5 years': Rajya Sabha Deputy Chairman Harivansh
Rajya Sabha Deputy Chairman Harivansh added that the 'day is an important milestone as it will prove to be a source of inspiration in the Amritkaal'
New Parliament Building Inauguration: PM Modi places 'Sengol' inside complex, seeks blessings of adheenams
Shortly after he arrived at the location, PM Modi attended a havan and performed a puja at the premises ahead of the inauguration