FDI policy liberalised, 100% FDI now in retail, construction

FDI Relaxation To Help Attract Foreign Investors Experts

The RSS-affiliated Swadeshi Jagaran Manch on Thursday strongly opposed the Centre's decision to allow 100 percent FDI under automatic route for single brand retail and foreign investment up to 49 percent in Air India, saying these decisions are not in "interest of the country".

The foreign direct investment (FDI) policy for medical devices and audit firms associated with companies receiving overseas funds were also eased to facilitate capital inflows. It has said that allowing 49% foreign investment is not the best of the solutions for ending the troubles with the National Carrier.

India has secured robust foreign investment inflows in recent years, but its economic growth has slowed recently. These are meant to liberalize and simplify the FDI policy so as to provide ease of doing business in the country.

As some critics have pointed out, the automatic approval of 100% FDI in single-brand retail comes with new caveats to replace existing ones and which will not be easy to meet for most companies.

Opening up of FDI for real estate brokers will surely help the sector in India.

While there have been efforts by previous governments to divest part of all of the state's stake in Air India, none has shown as much commitment and intensity as the current National Democratic Alliance. "We believe the decision to allow 100 per cent FDI through automatic route will ease the process for foreign as well domestic brands", Retailers Association said.

The net loss of Air India in 2016-17 was 3643 crores, and in 2017-18 were 3579 crores.

Even while acknowledging that changes in FDI policy should not be equated with big reforms - that description should be reserved for such changes as fundamentally reshaping agricultural or labour markets - this criticism is a tad unfair.

However, FII/FPI (foreign portfolio investors) purchases were restricted to secondary market only.

The move should generate employment and give Indian consumers access to several worldwide brands.

This is unedited, unformatted feed from the Press Trust of India wire.

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