NEW DELHI, Nov 24: The Department of Industrial Policy and Promotion today notified the recent liberalisation of FDI policy in several sectors including defence, retail and construction development sector.
The DIPP has also defined the term “manufacturing” for the purpose of attracting foreign direct investment (FDI).
In a recent decision, the government has permitted a manufacturer to sell products made in India through wholesale, retail including through e-commerce platforms without government approval.
The Press Note of the DIPP has defined the term “control” for the purpose of FDI in Limited Liability Partnerships (LLPs).
Press notes are official documents issued by DIPP through which new FDI policies or changes in existing ones come into effect.
Unveiling sweeping liberalisation of foreign investment norms, the government had on November 10 opened up 15 sectors including real estate, defence, civil aviation and news broadcasting in a bid to push up reforms.
DIPP, under the Commerce and Industry Ministry, has notified the liberalisation of the policy in plantation sectors. Foreign investment is now allowed in coffee, rubber, cardamom, palm oil tree and olive oil tree plantations.
Earlier FDI was prohibited in these sectors.
In defence sector, 49 per cent foreign investment is allowed through automatic route, the press note said.
Similarly, FDI cap was increased in teleport, DTH, cable networks and mobile TV besides FDI limit was raised to 49 per cent in up-linking of news and current affairs channels.
“In the I&B (Information and Broadcasting) sector where the sectoral cap is up to 49 per cent, the company would need to be owned and controlled by resident Indian citizens and Indian companies, which are owned and controlled by resident Indian citizens,” it said.
Foreign investment cap in non-scheduled air transport service was increased to 100 per cent through automatic route.
DIPP has also notified easing of the norms in construction development and single brand retail trading. (PTI)
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