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Govt liberalises FDI limits in 12 sectors, including telecom

This article was posted on Jul 16, 2013 and is filed under Press Releases

NEW DELHI: Opening the doors to shore up foreign investments, the government today liberalised FDI limits in a dozen sectors, including allowing 100 per cent in telecom and higher limits in ‘state-of-the-art’ defence manufacturing, to boost the sagging economy.

The Foreign Direct Investment (FDI) cap for civil aviation was, however, left unchanged at 49 per cent.

While the FDI cap in defence sector remained unchanged at 26 per cent, higher limits of foreign investments in ‘state-of-the-art’ technology manufacturing will be considered by the Cabinet Committee on Security, Commerce and Industry Minister Anand Sharma told reporters here.

In the contentious insurance sector, it was decided to raise the sectoral FDI cap from 26 per cent to 49 per cent under automatic route under which companies investing do not require prior government approval. A Bill to raise FDI cap in the sector is pending in the Rajya Sabha.

source: Economic Times

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