India Eases Foreign Investment Rules To Push Growth

India Eases Foreign Investment Rules To Push Growth

These are meant to liberalise and simplify the FDI policy so as to provide ease of doing business in the country.

In turn, it will lead to larger FDI inflows contributing to growth of investment, income and employment, the government said in a statement.

Allowing incremental sourcing undertaken by overseas companies to be counted towards the 30% sourcing commitment for the initial five years will provide them with the flexibility and time to align their retail and sourcing business in India. The development is expected to clear the way for foreign airlines and Indian carriers to get into tie-ups to jointly invest in Air India. In the recent past, the Government has brought FDI policy reforms in a number of sectors viz. Defence, Construction Development, Insurance, Pension, Other Financial Services, Asset reconstruction Companies, Broadcasting, Civil Aviation, Pharmaceuticals, Trading etc.

Opposing the disinvestment of Air India, Mahajan said the finances of national airline are in deep trouble, but allowing foreign investment is not the best of the solutions for ending its troubles.

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As some critics have pointed out, the automatic approval of 100% FDI in single-brand retail comes with new caveats to replace existing ones and which will not be easy to meet for most companies. And to expedite such privatisation move, the government has now made this announcement of permitting 49 per cent FDI.

Prime Minister Narendra Modi's cabinet approved a proposal to allow foreign airlines to take up to a 49% stake in national carrier Air India, which New Delhi wants to privatize. The change in FDI-in-retail policy isn't as contentious, but it is a fearless move because the RSS has always been opposed to it and the BJP's traditional voter base includes a lot of traders and retailers.

The Government claimed that these measures have resulted in increased FDI inflows.

While India has seen its economy slowing recently, it has managed to secure a lot of foreign capital even without the new opportunities in place for entrepreneurs from overseas. In the financial year 2016-17, total FDI of U.S. $ 60.08 billion has been received, which is an all-time high.

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