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On Monday, the government has liberalised its foreign direct investment strategy for providing major impetus to employment and job creation in India.
According to an official statement from PMO, “Now most of the sectors would be under automatic approval route, except a small negative list. With these changes, India is now the most open economy in the world for FDI.”
The government has approved 100% FDI under government approval route for trading, including through e-commerce, in respect of food products manufactured or produced in India and permitting up to 100 percent FDI in defence sector.
Other sectors that have got benefit includes the broadcasting, pharmaceuticals, civil aviation, single brand retail among others.
