Govt. Looks to relax FDI rules
The government is looking at further relaxing the foreign direct investment policy after recent reforms that allowed automatic approval for most sectors and increased the limit in many areas.
India has become one of the most open economies in the world and 92% of its FDI now comes through the automatic route, Department of Industrial Policy & Promotion (DIPP) secretary Ramesh Abhishek said.
“We have taken a series of transformative steps in the last two years…from bankruptcy code to GST, which the government is ready to launch as per schedule,” Abhishek said. The target date to implement GST is April 1.