Cabinet Approves 100% FDI In Single Brand Retail
Union cabinet today (10-01-2017) has approved a proposal for allowing 100% Foriegn Direct Investment (FDI) in single brand retail via automatic route
So far it was only allowed till 49 % , and anything more than that needed a government approval . Uninion Cabinet today reviewed the policy to attract overseas funds in certain sectors
It also cleared 100 per cent FDI in construction development via automatic route.
The Cabinet also allowed investments up to 49 % in AirIndia under the approval route to expedite Air India divestment process
Likely with the announcement , Most of the retail sector stocks traded higher today