Foreign Direct Investment (FDI) Norms May Be Eased
Posted on Thu Nov 08, 2007 at 12:35:36 AM EST
The Eleventh Plan draft document has built a strong case for relaxing foreign direct investment (FDI) norms in key sectors like insurance, private banking, single brand retailing and broadcasting.
"The progress regarding elimination of FDI limits in key sectors also needs to continue in order to increase FDI flows and stimulate transfer of technology, which is critical for improving competitiveness," said the 11th Plan draft document.
The draft would be discussed at full Planning Commission panel meeting tomorrow.
Presently, the FDI insurance sector is capped at 26 per cent, while it is at 51 per cent in single brand retailing.
In case of FM radio broadcasting, the government allows foreign investment up to 20 per cent. The FDI cap in sectors like defence production and print and electronic media is 26 per cent.
Source:Tribune,08 Nov,07
By parul118, Section Finance & Investing
Posted on Thu Nov 08, 2007 at 12:35:36 AM EST
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